Intel Slashes Dividend 66%, Reaffirms First-Quarter Forecast

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Intel Slashes Dividend 66%, Reaffirms First-Quarter Forecast

Bloomberg2023-02-22

Intel’s dividend payment is now at lowest level since 2007Chip company is cutting jobs, slowing spending to save cashIntel Corp., the biggest maker of computer processors, slashed its dividend payment...

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jiunnnnn
·2023-02-22
not surprised
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SNeo
·2023-02-22
[Cry]
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Intel’s current quarterly dividend is 36.5 cents and was projected to cost more than $6 billion in 2023. The new payment resets Intel’s dividend to a level not seen since 2007.“The decision to decrease the quarterly dividend reflects the board’s deliberate approach to capital allocation and is designed to best position the company to create long-term value,” Intel said in the statement. “The improved financial flexibility will support the critical investments needed to execute Intel’s transformation during this period of macroeconomic uncertainty.”In its earnings report last month, Intel forecast one of the worst quarters in its history as a slowdown in personal-computer sales ravages the semiconductor industry.Chip companies are reeling over a steep decline in demand for PC processors that has wiped out profits and led to deep cuts across the industry. Intel is eliminating jobs and slowing spending on new plants in an effort to save as much as $10 billion. 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First-quarter revenue will between $10.5 billion and $11.5 billion with a loss, minus certain items, of 15 cents a share.Intel shares, one of the worst performing on the Philadelphia Stock Exchange Semiconductor Index this year, have lost about 1% in 2023 up to Tuesday’s close.","kind":null,"is_publish_news":null,"is_publish_highlight":null,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"symbols":[],"gpt_button":1},"commentList":[{"id":9957113093,"gmtCreate":1677078070212,"gmtModify":1677078073757,"author":{"id":"4088132666965010","authorId":"4088132666965010","name":"jiunnnnn","avatar":"https://community-static.tradeup.com/news/24f28c4d762ae6f62b32956f1633ebdf","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"not surprised&nbsp;","listText":"not surprised&nbsp;","text":"not surprised","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957113093","repostId":1125988139,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9957138333,"gmtCreate":1677073125722,"gmtModify":1677073129330,"author":{"id":"4112071922817752","authorId":"4112071922817752","name":"SNeo","avatar":"https://community-static.tradeup.com/news/d5b48d982c4246e1c1d0400e42ad5e32","vip":1,"crmLevel":2,"crmLevelSwitch":1},"htmlText":"[Cry]&nbsp;","listText":"[Cry]&nbsp;","text":"[Cry]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9957138333","repostId":1125988139,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":30,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}