Thursday, June 14, 2012

Top Stocks For 2012-1-23-1

Company spent $1.6 billion for share buyback through the first half of the fiscal year

ROUND ROCK, Texas–(CRWENEWSWIRE)– Dell�s board of directors has authorized $5 billion for stock repurchase, an addition to the $2.16 billion remaining from prior authorizations at the end of the company�s second fiscal quarter. The action was taken in the company�s recent Board of Directors meeting.

Dell (NASDAQ:DELL) previously reported the repurchase of $1.1 billion in shares in the second quarter, which it ended with a record high $16.2 billion in cash and investments.

�Our efforts to streamline our operations and reduce costs have resulted in outstanding cash flow from operations, enabling us over the past five years to more than double the percentage of capital we�ve allocated to research and development, capital expenditures and acquisitions while continuing an ongoing stock repurchase program,� said Brian Gladden, Dell chief financial officer. �With this additional commitment from the Board, we have the flexibility to continue making opportunistic share repurchases as a key element of our disciplined capital allocation strategy.�

Size and timing of stock purchases under the program will continue to be based on factors including price and market conditions.

About Dell

Dell Inc. listens to customers and delivers innovative technology and services they need and value. For more information, visit www.dell.com. To communicate directly with Dell, go to www.dell.com/dellshares.

Dell is a trademark of Dell Inc. Dell disclaims any proprietary interest in the marks and names of others.

Source: Dell, Inc.

Contact:

Dell
Media Contacts: 512-728-4100
David Frink, 512-728-2678
david_frink@dell.com
or
Jess Blackburn, 512-728-8295
jess_blackburn@dell.com
or
Investor Relations Contacts:
Robert Williams, 512-728-7570
robert_williams@dell.com
or
David Mehok, 512-728-4225
david_mehok@dell.com
or
Frank Molina, 512-723-5116
frank_molina@dell.com

 

 

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!

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