https://www.barrons.com/articles/intel-cuts-dividend-6a2e1f03
Intel announced Wednesday it will be cutting its quarterly dividend by 66%, saying the move “reflects the board’s deliberate approach to capital allocation.”
Intel will be cutting its quarterly dividend to 12.5 cents a share , down 66% from its previous dividend of 36.5 cents.
“The decision to decrease the quarterly dividend reflects the board’s deliberate approach to capital allocation and is designed to best position the company to create long-term value. The improved financial flexibility will support the critical investments needed to execute Intel’s transformation during this period of macroeconomic uncertainty,” Intel said in a press release.
Intel reiterated it expects an adjusted first-quarter loss of 15 cents a share on revenue between $10.5 billion and $11.5 billion.
Shares of Intel were down 0.2% in premarket trading to $26.02. Coming into Wednesday trading, the stock has fallen 1.4% this year
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