NVIDIA to Return $1 Billion to Shareholders in Current Fiscal Year
Dividends and Stock Buyback Program Will Bring Capital Return to $1.2
Billion Over Five Quarters
SANTA CLARA, CA -- (Marketwired) -- 04/11/13 -- NVIDIA today
announced that it will return $1 billion this fiscal year to
shareholders in the form of stock buybacks and dividend payments,
including $100 million in stock being repurchased this quarter.
This will bring to $1.2 billion the total capital returned to
shareholders since the company announced its quarterly dividend
program in November 2012.
NVIDIA had previously disclosed the return of $200 million in capital
to shareholders since November. This includes $100 million in shares
repurchased in its fiscal fourth quarter ended Jan. 27, 2013 and $100
million in dividends paid in the current and previous quarters.
The return of a further $1 billion will largely be through a
structured stock repurchase program, which includes the $100 million
being repurchased in the current quarter. It also includes the
company's quarterly dividend of $0.075 per share, which has amounted
to about $50 million a quarter.
"NVIDIA's strategies are gaining traction in the market and make us
confident in our ability to continue generating cash," said Jen-Hsun
Huang, president and chief executive officer of NVIDIA. "We are now
broadening our program of giving back cash to our shareholders and
plan to return a further $1 billion by the end of this fiscal year."
Further details of the plan will be provided next month with the
release of NVIDIA's financial results for the first quarter of fiscal
2014 ending April 28, 2013.
Since 1993, NVIDIA (NASDAQ: NVDA) has pioneered the art
and science of visual computing. The company's technologies are
transforming a world of displays into a world of interactive
discovery -- for everyone from gamers to scientists, and consumers to
enterprise customers. More information at
http://nvidianews.nvidia.com and http://blogs.nvidia.com.
Certain statements in this press release including, but not limited
to, statements as to: the company's planned return of capital to
shareholders and the form of the return; the company's strategies
gaining traction; and our ability to generate cash; are
forward-looking statements that are subject to risks and
uncertainties that could cause results to be materially different
than expectations. Important factors that could cause actual results
to differ materially include: global economic conditions; our
reliance on third parties to manufacture, assemble, package and test
our products; the impact of technological development and
competition; development of new products and technologies or
enhancements to our existing product and technologies; market
acceptance of our products or our partners' products; design,
manufacturing or software defects; changes in consumer preferences or
demands; changes in industry standards and interfaces; unexpected
loss of performance of our products or technologies when integrated
into systems; as well as other factors detailed from time to time in
the reports NVIDIA files with the Securities and Exchange Commission,
or SEC, including its Form 10-K for the fiscal period ended January
27, 2013. Copies of reports filed with the SEC are posted on the
company's website and are available from NVIDIA without charge. These
forward-looking statements are not guarantees of future performance
and speak only as of the date hereof, and, except as required by law,
NVIDIA disclaims any obligation to update these forward-looking
statements to reflect future events or circumstances.
Copyright 2013 NVIDIA Corporation. All rights reserved. NVIDIA and
the NVIDIA logo are trademarks and/or registered trademarks of NVIDIA
Corporation in the U.S. and other countries. Other company and
product names may be trademarks of the respective companies with
which they are associated. Features, pricing, availability and
specifications are subject to change without notice.
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