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DELL TECHNOLOGIES INC.

(DELL)
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Dell Launches Buyback Program, Sees Revenue Growing 3% to 4% Yearly Through 2026

09/23/2021 | 06:49am EDT

By Matt Grossman

Dell Technologies Inc. Thursday said it plans to embark on a $5 billion share-repurchase program starting in November, and forecast revenue will grow by 3% to 4% annually through fiscal 2026.

The Round Rock, Texas-based computing company said its new buyback program will be effective in November, upon the projected completion of the spinoff of the VMware business. That move will likely grant Dell an investment-grade corporate-family credit rating, Dell said.

Dell also said it plans to initiate a quarterly dividend in the first quarter of its 2023 fiscal year, aiming for an annual dividend of about $1 billion.

Dell's multi-year guidance came ahead of a Thursday meeting with sector analysts. As part of the guidance, Dell said it expects its adjusted earnings per share will grow at an annual rate of 6% or more through the 2026 fiscal year.

The company affirmed previously issued guidance for the third quarter of its 2022 fiscal year, calling for revenue growth in the mid to high teens and operating income 1% to 2% higher sequentially.

Write to Matt Grossman at matt.grossman@wsj.com

(END) Dow Jones Newswires

09-23-21 0849ET

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Financials (USD)
Sales 2022 106 B - -
Net income 2022 3 843 M - -
Net Debt 2022 24 304 M - -
P/E ratio 2022 25,0x
Yield 2022 -
Capitalization 86 443 M 86 443 M -
EV / Sales 2022 1,04x
EV / Sales 2023 0,95x
Nbr of Employees 158 000
Free-Float 36,6%
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Mean consensus OUTPERFORM
Number of Analysts 18
Last Close Price 112,98 $
Average target price 117,29 $
Spread / Average Target 3,81%
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Managers and Directors
Michael Saul Dell Chairman & Chief Executive Officer
Thomas W. Sweet Chief Financial Officer & Executive Vice President
Howard D. Elias President-Dell Services, Digital & IT
Jeffrey W. Clarke Vice Chairman & Co-Chief Operating Officer
Anthony Charles Whitten Co-Chief Operating Officer
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