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September 23, 2017

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US PC maker Dell unveils first dividend of 8 US cents a share

NEW YORK -- Struggling computer maker Dell announced its first quarterly dividend Thursday, following through on a pledge to use up some of its cash stockpile to boost shareholder value.

Dell said it would pay a cash dividend of 8 cents per share on Oct. 22.

"This is the first cash dividend paid to shareholders in the company's history," the company said in a statement.

"The payment of a quarterly cash dividend is intended to help contribute to long-term shareholder value," Brian Gladden, Dell chief financial officer, said.

Founded in 1984, Dell Computer Corporation went public in 1988.

Michael Dell, the firm's founder, chairman and chief executive, announced in June that in view of the PC maker's cash position and a shift to a more diversified business model, "we feel confident this is a great time to return this capital to shareholders now in perpetuity."

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