Intel just announced its first dividend cut since 2000

on Feb 22, 2023
  • Intel trims its dividend by a whopping 65% to 12.5 cents a share.
  • The semiconductor behemoth also reiterated its Q1 outlook today.
  • Intel stock is roughly flat versus the start of the year at writing.

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Shares of Intel Corporation (NASDAQ: INTC) are in the green this morning even after the semiconductor behemoth announced a massive cut to its dividend.

Intel cuts dividend to 12.5 cents a share

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On Wednesday, the multinational technology company trimmed its quarterly dividend by a whopping 65% to 12.5 cents a share.

The announcement arrives shortly after Intel Corporation promised $3.0 billion in cost savings this year. CEO Pat Gelsinger confirmed in the press release, though, that the company planned on growing its payout again over time.

The board and I continue to view the dividend as a critical component to the overall attractiveness of Intel.

Last month, the Nasdaq-listed firm also reported its largest quarterly loss since 2017 as Invezz posted HERE. For the year, Intel stock is roughly flat at writing.

Intel Corporation reiterates its Q1 outlook

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It’s the first time in more than two decades that Intel Corporation has resorted to slashing its dividend. Intel stock now pays a dividend yield of just under 2.0%. CEO Gelsinger added:

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Also on Wednesday, Intel Corporation reiterated its outlook for 15 cents of adjusted per-share earnings in the first quarter but refrained from offering full-year guidance due to economic uncertainty.  

Earlier today, our financial analyst Crispus Nyaga identified a bearish flag pattern on the Intel stock’s weekly chart. Wall Street currently has a consensus “hold” rating on INTC.  


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