Avago Technologies (AVGO) Adopts Dividend Policy

Avago Technologies Limited (Nasdaq: AVGO) has adopted a dividend policy pursuant to which the Company intends to pay quarterly cash dividends on its ordinary shares. The Company’s Board of Directors has authorized the Company to pay a regular, quarterly cash dividend not to exceed US$0.07 per ordinary share, per quarter, with the declaration and payment of such dividend to commence no earlier than the first quarter of the fiscal year ending October 30, 2011. The actual declaration and payment of any such dividend is in the discretion of, and subject to the further approval by, the Company’s Board of Directors, and will depend upon such factors as the Company’s earnings levels, capital requirements, contractual restrictions, the Company’s overall financial condition and any other factors deemed relevant by the Board of Directors. The payment of dividends is also subject to there being sufficient distributable profits out of which dividends can be declared, as well as the other constraints and factors discussed below.... Read more

Older articles featuring AVGO: