Western Digital Corporation Plans Quarterly Dividend of $0.15 (NASDAQ:WDC)

Western Digital Corporation (NASDAQ:WDC – Get Free Report) announced a quarterly dividend on Wednesday, August 5th. Investors of record on Tuesday, September 8th will be given a dividend of 0.15 per share by the data storage provider on Thursday, September 17th. This represents a c) annualized dividend and a yield of 0.1%. The ex-dividend date is Tuesday, September 8th.

Western Digital has increased its dividend payment by an average of 0.6%annually over the last three years. Western Digital has a payout ratio of 11.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Western Digital to earn $17.77 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 3.4%.

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Western Digital Stock Performance

Shares of WDC stock opened at $519.17 on Thursday. The stock has a fifty day simple moving average of $569.14 and a two-hundred day simple moving average of $415.61. Western Digital has a 52-week low of $73.14 and a 52-week high of $799.87. The firm has a market capitalization of $178.95 billion, a PE ratio of 31.00 and a beta of 2.14.

Western Digital (NASDAQ:WDC – Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The data storage provider reported $3.56 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.25. Western Digital had a return on equity of 42.95% and a net margin of 55.29%.The company had revenue of $3.75 billion during the quarter, compared to analyst estimates of $3.70 billion. During the same period in the prior year, the company earned $1.66 earnings per share. The firm’s revenue was up 43.8% on a year-over-year basis. On average, sell-side analysts forecast that Western Digital will post 9.61 EPS for the current fiscal year.

About Western Digital

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Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.

Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.

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