(Bloomberg) Dell Technologies Inc put out its vision for the coming years, forecasting annual revenue growth of 3% to 4% through 2026, and unveiling a $5 billion share repurchase program.
On Thursday, the computer hardware maker stated that its buyback program would be effective in November on the anticipated completion of the VMware Inc. derivative. Dell expects to get an investment-grade credit rating at the time.
The Round Rock, Texas-based company stated that it plans to commence a quarterly dividend in the fiscal 2023 first quarter, targeting an annual dividend of nearly $1 billion.
Michael Dell, the chairman and chief executive officer, stated that the core business is growing and thriving. The shares rose 4.7% at 10:45 a.m. in New York.
Dell is looking to identify a picture of what its business will look like once the pandemic effects and semiconductor shortage subsides.
Dell was less optimistic about sales Thursday but more bullish about its earnings-per-share outlook, which will grow nearly 6% annually through 2026.
DELL up +3.45%.
