SanDisk
Corporation (NASDAQ: SNDK),
a global leader in flash storage solutions, today announced that the
Board of Directors has approved a 33 percent increase in the company’s
quarterly dividend payment to $0.30 per share ($1.20 per share on an
annual basis). This planned increase will go into effect for dividends
declared beginning in the third fiscal quarter of 2014, one year after
the dividend program was initiated. Future dividend payments are subject
to consideration and declaration by the Board of Directors.
“This dividend increase underscores the confidence we have in SanDisk’s
business and reflects our commitment to sharing our success with our
stockholders,” said Judy Bruner, executive vice president,
administration and chief financial officer.
About SanDisk
SanDisk Corporation (NASDAQ: SNDK), a Fortune 500 and S&P 500 company,
is a global leader in flash storage solutions. For more than 25 years,
SanDisk has expanded the possibilities of storage, providing trusted and
innovative products that have transformed the electronics industry.
Today, SanDisk’s quality, state-of-the-art solutions are at the heart of
many of the world's largest data centers, and embedded in advanced smart
phones, tablets and PCs. SanDisk’s consumer products are available at
hundreds of thousands of retail stores worldwide. For more information,
visit www.sandisk.com.
This news release contains certain forward-looking statements, including
the amount, timing and frequency of any future dividends, our future
business prospects and our commitment to return capital to stockholders,
that are based on our current expectations and involve numerous risks
and uncertainties that may cause these forward-looking statements to be
inaccurate. Risks that may cause these forward-looking statements to be
inaccurate include among others: the timing and amount of any future
dividends is subject to consideration and declaration by our Board of
Directors and will depend upon a number of factors, including our future
results of operations, our financial condition and capital requirements,
business conditions, covenants under loan agreements and other
contractual arrangements; changes in our results of operations or
financial conditions or strategic priorities may lead to a modification,
suspension or cancellation of our dividend program or overall capital
return program, which may occur at any time at our discretion; our
business may not perform as expected; we may need to use our free cash
flow for other aspects of our business; or the other risks detailed from
time-to-time in our Securities and Exchange Commission filings and
reports, including, but not limited to, our most recent quarterly report
on Form 10-Q. We do not intend to update the information contained in
this news release.
© 2014 SanDisk Corporation. All rights reserved. SanDisk and the SanDisk
logo are trademarks of SanDisk Corporation, registered in the United
States and other countries. Other brand names mentioned herein are for
identification purposes only and may be the trademarks of their
respective holder(s).
Copyright Business Wire 2014