AVGO goes ex-dividend

AVGO $Broadcom(AVGO)$ goes ex-dividend tomorrow 20SEP

• Should be the last dividend at $4.60/share

• Dividend hike announcement expected beg Dec

• Last year's dividend increase +12%

• 2.2% dividend yield

• Dividend payout TTM (% FCF): 43%


AVGO segment revenue

Semiconductor solutions has been the growth engine for the past 3 years (double digits until 1QFY23)

Infrastucture software as total % of revenue has dropped from 28% in FY20 to 21 % for the first 3 quarters of FY23


AVGO proposed acquisition of VMW $VMware(VMW)$ would rebalance this

It would mean a near 50-50 weight of revenue between semicondutctors and software


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