Intel: American Intel Corp., one of the world’s leading manufacturers of computer components, has reduced its quarterly dividend by almost three times – to $0.125 per share from $0.365 per share.
The company said in a press release that the dividend would be paid on June 1, 2023, to shareholders on the register as of May 7, 2023.
« The decision to cut dividends is driven by the board’s cautious approach to capital allocation, » the release notes. « Increased financial flexibility will support key investments needed to transform Intel during the current macroeconomic uncertainty. »
The company reaffirmed guidance for the first quarter of 2023, announced in January, according to which its revenue will be $10.5-11.5 billion, a net loss of $0.8 per share, and a loss excluding one-time factors of $0.15 per share.
Intel continues to take steps to optimize its cost structure and plans to achieve $3 billion in cost savings in 2023, according to a press release. By 2025, the company expects to cut annual spending by $8-10 billion, including through previously announced job cuts, as well as rewards for employees and top managers.
Over the past 12 months, Intel’s capitalization has fallen by 42%.
