Nvidia to Return $1 Billion to Shareholders
Matt St-Georges / 7 years ago
In November 2012 Nvidia began the company’s quarterly dividend program. Today they have announced their plans to return $1 billon to its shareholders through a structured stock repurchase program, which includes the $100 million being repurchased in the current quarter and Nvidia’s quarterly dividend of $0.075 per share, around $50 million a quarter.
“NVIDIA’s strategies are gaining traction in the market and make us confident in our ability to continue generating cash,” said Jen-Hsun Huang, president and chief executive officer of NVIDIA. “We are now broadening our program of giving back cash to our shareholders and plan to return a further $1 billion by the end of this fiscal year.”
Right now Nvidia is projecting their returns for the program will be $1.2 Billion total by end of fiscal 2014. The first quarter of fiscal 2014 for the company ends April 28, that’s pretty soon.
Speaking of the end of the quarter, they will have further details of the plan to reveal next month with the release of Nvidia’s financial results.