IRVINE, Calif., Nov. 3, 2015 /PRNewswire/ -- Western
Digital® Corp. (NASDAQ: WDC) today announced that the
board of directors declared a cash dividend for the quarter ending
Jan. 1, 2016, of $0.50 per share of common stock (the "cash
dividend"). The cash dividend will be paid on Jan. 15, 2016, to the company's stockholders of
record as of Jan. 1, 2016.
The amount of future dividends under the company's dividend
policy, and the declaration and payment thereof, will be based upon
all relevant factors, including the company's financial position,
results of operations, cash flows, capital requirements and
restrictions under the company's existing credit agreement, and
shall be in compliance with applicable law. The board retains the
power to modify, suspend or cancel the company's dividend policy in
any manner and at any time as it may deem necessary or appropriate
in the future.
About Western Digital
Founded in 1970, Western Digital
Corp. (NASDAQ: WDC), Irvine,
Calif., is an industry-leading developer and manufacturer of
storage solutions that enable people to create, manage, experience
and preserve digital content. It is a long-time innovator in the
storage industry. Western Digital Corporation is responding to
changing market needs by providing a full portfolio of compelling,
high-quality storage products with effective technology deployment,
high efficiency, flexibility and speed. Its products are marketed
under the HGST and WD brands to OEMs, distributors, resellers,
cloud infrastructure providers and consumers. Financial and
investor information is available on the company's Investor
Relations website at investor.wdc.com.
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. These forward-looking statements include statements
concerning the company's dividend for the second quarter of fiscal
year 2016. These forward-looking statements are based on
management's current expectations and are subject to risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied in the forward-looking statements,
including: volatility in global economic conditions; business
conditions and growth in the storage ecosystem; pricing trends and
fluctuations in average selling prices; the availability and cost
of commodity materials and specialized product components; actions
by competitors; unexpected advances in competing technologies; the
development and introduction of products based on new technologies
and expansion into new data storage markets; and other risks and
uncertainties listed in the company's filings with the Securities
and Exchange Commission (the "SEC"), including the company's most
recent annual report on Form 10-K filed with the SEC on
Aug. 21, 2015, to which your
attention is directed. You should not place undue reliance on these
forward-looking statements, which speak only as of the date hereof,
and the company undertakes no obligation to update these
forward-looking statements to reflect subsequent events or
circumstances.
Western Digital, WD and the WD logo are registered trademarks in
the U.S. and other countries. HGST trademarks are intended and
authorized for use only in countries and jurisdictions in which
HGST has obtained the rights to use, market and advertise the
brand.
Logo - http://photos.prnewswire.com/prnh/20000711/WDCLOGO
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SOURCE Western Digital Corp.