Ex-Dividend Alert: Western Digital Has A Dividend Yield of 2.51%; Will Trade Ex-Dividend on June 28, 2018

LONDON, UK / ACCESSWIRE / June 26, 2018 / Active-Investors has a free review on Western Digital Corp. (NASDAQ: WDC) following the Company’s announcement that it will begin trading ex-dividend on June 28, 2018. To capture the dividend payout, investors must purchase the stock a day prior to the ex-dividend date that is by latest at the end of the trading session on June 27, 2018. Active-Investors has initiated due-diligence on this dividend stock. Register with us for more free research including the one on WDC:

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Dividend Declared

On May 02, 2018, Western Digital announced that its Board of Directors declared a cash dividend for the quarter ending June 29, 2018, of $0.50 per share of common stock. The cash dividend will be paid on July 16, 2018, to the Company’s stockholders of record as of June 29, 2018.

Western Digital’s indicated dividend represents a yield of 2.51%, which is more than double compared to the average dividend yield of 1.06% for the Technology sector.

Dividend Insights

Western Digital has a dividend payout ratio of 14.9%, which indicates that the Company spends approximately $0.20 for dividend distribution out of every $1.00 earned. The dividend payout ratio reflects how much amount a company is returning to shareholders versus how much money it is keeping on hand to reinvest in growth, to pay off debt, and/or to add to its cash reserves.

According to analysts’ estimates, Western Digital is forecasted to report earnings of $13.57 per share for the next year, which is more than six times higher than the Company’s annualized dividend payout of $2.00 per share.

Western Digital generated $1.0 billion in cash from operations during the third fiscal quarter of 2018, ending on March 30, 2018. The Company finished the reported quarter with $5.1 billion of total cash, cash equivalents, and available-for-sale securities. The Company’s strong financial position indicates its ability to absorb any fluctuations in earnings and cash flow and to sustain the dividend distribution for a long period.

Recent Development for Western Digital

On June 19, 2018, Western Digital announced that it has expanded its surveillance portfolio with the introduction of the industry’s highest capacity, deep-learning-capable, surveillance-class drive, Western Digital® Purple 12TB drive with exclusive AllFrame AI technology.

Western Digital’s newest launch in surveillance portfolio creates new possibilities in video surveillance by supporting the capture of multiple high-resolution video streams, at the same time accessing recorded video to support deep learning and analytics. This capability is purpose-built for emerging DVR and NVR systems with Artificial Intelligence (AI) capabilities in that it supports real-time detection of AI-triggered events at the point of capture with continuous background learning.

About Western Digital Corp.

Western Digital, together with its subsidiaries, develops, manufactures, and sells data storage devices and solutions worldwide. It offers performance hard disk drives (HDDs) that are used in enterprise servers, data analysis, and other enterprise applications. The Company also provides system solutions that offer petabyte scalable capacity.

Western Digital was founded in 1970 and is headquartered in San Jose, California.

Stock Performance Snapshot

June 25, 2018 – At Monday’s closing bell, Western Digital’s stock dropped 1.95%, ending the trading session at $78.13.

Volume traded for the day: 3.88 million shares.

After yesterday’s close, Western Digital’s market cap was at $23.54 billion.

Price to Earnings (P/E) ratio was at 13.20.

The stock has a dividend yield of 2.56%.

The stock is part of the Technology sector, categorized under the Data Storage Devices industry.

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