Dell forecasts 3-4pc compounded annual revenue growth over long term
Last updated on: 05 October,2023 06:18 pm
Shares of the company were down 1% in premarket trading
(Reuters) - Dell Technologies (DELL.N) said on Thursday it expects compounded annual revenue growth of 3-4% over the long term and boosted its share buyback plan by $5 billion.
Dell also said it would raise its quarterly dividend by 10% or more every year through fiscal 2028, as it plans to return more than 80% of adjusted free cash flow to shareholders through a combination of share buybacks and dividends.
Shares of the company were down 1% in premarket trading.
The company increased its adjusted earnings per share target of 8% annual growth or better over the long term.
In its most recent quarterly report in August, Dell raised its full-year revenue and profit forecast on signs of a stabilizing demand outlook for computers and servers.