Western Digital Corporation (NASDAQ:WDC) Plans Quarterly Dividend of $0.17

Western Digital Corporation (NASDAQ:WDC) announced a quarterly dividend on Thursday, October 22nd. Stockholders of record on Friday, December 4th will be paid a dividend of $0.1750 per share by the data storage provider on Thursday, December 17th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Friday, December 4th. This is a 16.7% increase from Western Digital’s previous quarterly dividend of $0.15.

Western Digital has a payout ratio of 11.0% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Western Digital to earn $34.27 per share next year, which means the company should continue to be able to cover its $0.60 annual dividend with an expected future payout ratio of 1.8%.

Western Digital Stock Performance

NASDAQ:WDC opened at $354.19 on Friday. Western Digital has a one year low of $121.71 and a one year high of $799.87. The business’s 50-day simple moving average is $435.48 and its 200 day simple moving average is $480.46. The stock has a market cap of $132.58 billion, a price-to-earnings ratio of 14.63, a price-to-earnings-growth ratio of 1.60 and a beta of 2.11.

Western Digital (NASDAQ:WDC) last issued its quarterly earnings results on Thursday, October 22nd. The data storage provider reported $4.64 EPS for the quarter, beating analysts’ consensus estimates of $4.11 by $0.53. Western Digital had a return on equity of 48.15% and a net margin of 72.95%. The firm had revenue of $4.38 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the prior year, the business posted $1.78 earnings per share. Western Digital’s revenue for the quarter was up 55.5% on a year-over-year basis. On average, equities research analysts predict that Western Digital will post 19.69 EPS for the current year.

Western Digital Company Profile

Western Digital Corporation (NASDAQ: WDC) is a data storage technology company that develops and manufactures hard disk drives (HDDs) and related storage solutions. Its products are used in data centers, cloud infrastructure, enterprise systems, personal computers, gaming platforms and external storage devices.

The company offers HDD-based products for business and consumer applications, including high-capacity drives designed for hyperscale and cloud data centers, enterprise storage environments, network-attached storage systems and personal computing.