(Reuters) – Dell Technologies said on Thursday it expects compounded annual revenue growth of 3-4% over the long term and boosted its share buyback plan by $5 billion.
Dell also said it would raise its quarterly dividend by 10% or more every year through fiscal 2028, as it plans to return more than 80% of adjusted free cash flow to shareholders through a combination of share buybacks and dividends.
Shares of the company were down 1% in premarket trading.
The company increased its adjusted earnings per share target of 8% annual growth or better over the long term.
In its most recent quarterly report in August, Dell raised its full-year revenue and profit forecast on signs of a stabilizing demand outlook for computers and servers.
(Reporting by Yuvraj Malik in Bengaluru; Editing by Shounak Dasgupta and Anil D’Silva)
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