Western Digital Board Declares Dividend For December Quarter

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Western Digital Board Declares Dividend For December Quarter

Postby Apoptosis » Tue Dec 04, 2012 7:03 am

Western Digital Board Declares Dividend For December Quarter, Payable On December 26, Record Date Of December 14

IRVINE, Calif., Dec. 4, 2012 /PRNewswire/ -- Western Digital® Corp. (NASDAQ: WDC) today announced that the Board of Directors declared a cash dividend for the quarter ending December 28, 2012, of $0.25 per share of common stock (the "cash dividend"). The cash dividend will be paid on December 26, 2012, to the company's stockholders of record as of December 14, 2012.

On September 13, 2012, the company indicated that beginning in its current fiscal year 2013 it is targeting a return to shareholders of approximately 50 percent of its free cash flow through a mix of cash dividends and share repurchases.

The amount of future dividends under the company's dividend policy, and the declaration and payment thereof, will be based upon all relevant factors, including the company's financial position, results of operations, cash flows, capital requirements and restrictions under the company's existing credit agreement, and will be in compliance with applicable law. The Board retains the power to modify, suspend or cancel the company's dividend policy in any manner and at any time as it may deem necessary or appropriate in the future.

About Western Digital

Western Digital Corp. (NASDAQ: WDC), Irvine, Calif., is a global provider of products and services that empower people to create, manage, experience and preserve digital content. Its companies design and manufacture storage devices, networking equipment and home entertainment products under the WD®, HGST and G-Technology brands. Visit the Investor section of the company's website (www.westerndigital.com) to access a variety of financial and investor information.
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