Summary
Western Digital Corporation (WDC) filed an 8-K on August 5, 2014, to announce a quarterly cash dividend. The company's Board of Directors declared a dividend of $0.40 per share of common stock for the quarter ending October 3, 2014. This dividend is scheduled to be paid on October 15, 2014, to stockholders of record as of October 3, 2014. The company's dividend policy is subject to various factors including financial position, results of operations, cash flows, capital requirements, and credit agreement restrictions. The Board retains the discretion to modify, suspend, or cancel the dividend policy as deemed necessary. The press release detailing this dividend announcement is attached as an exhibit to the filing.
Key Highlights
- 1Western Digital declared a quarterly cash dividend of $0.40 per share.
- 2The dividend is for the quarter ending October 3, 2014.
- 3Payment date for the dividend is October 15, 2014.
- 4Record date for the dividend is October 3, 2014.
- 5Future dividends are contingent on the company's financial performance, cash flow, and other factors.
- 6The Board of Directors has the authority to change the dividend policy at any time.
Frequently Asked Questions
The primary purpose of this 8-K filing is to officially announce Western Digital's declaration of a quarterly cash dividend to its shareholders.
The company declared a cash dividend of $0.40 per share. It will be paid on October 15, 2014, to shareholders who are on record as of October 3, 2014.
No, the declaration and payment of future dividends are not guaranteed. They depend on the company's financial condition, results of operations, cash flow needs, capital requirements, and any restrictions under its credit agreements. The Board of Directors also retains the right to modify or suspend the dividend policy.
The filing incorporates by reference a press release (Exhibit 99.1) issued by Western Digital on August 5, 2014, which provides further details about the dividend announcement.