Intel reduces quarterly dividend to 12.5c per share

Intel announced that its board of directors has reset its dividend policy, reducing the quarterly dividend to 12.5c per share on the company’s common stock. The dividend will be payable on June 1 to stockholders of record on May 7. The company said, "The decision to decrease the quarterly dividend reflects the board’s deliberate approach to capital allocation and is designed to best position the company to create long-term value. The improved financial flexibility will support the critical investments needed to execute Intel’s transformation during this period of macroeconomic uncertainty. Since first initiated in 1992, Intel’s dividend has delivered more than $80 billion in cash returns to the company’s stockholders, and the board is committed to maintaining a competitive dividend."