EMC Joins the List of Technology’s Dividend Stocks

Cloud storage and information technology services company EMC (EMC) announced today that it will both expand its existing share buyback program and initiate a dividend, based on confidence in its long term business strategy and prospects. Shares in the Hopkinton, Massachusetts based company jumped over 4% in early-day trading on the news.

EMC’s dividend of 10 cents per share on a quarterly basis (40 cents per share per year) will be paid on July 23 to shareholders of record on July 1, with an ex-dividend date of June 27. EMC’s dividend yield based on the payout stands at 1.6%. EMC also announced it will tap the debt markets to raise cash, although it doesn’t expect the move to have any significant impact in its financial results for the remainder of 2013.

Source: InvestorPlace

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