Reuters: Technology News: Dell to dole out more cash, corporate push quickens

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Dell to dole out more cash, corporate push quickens Jun 13th 2012, 11:30 Tweet Share this Email Print Related News Stock futures edge lower ahead of retail data 7:23am EDT Apple takes on Google with own maps, better Siri Tue, Jun 12 2012 Apple expected to unveil applications to take on Google Mon, Jun 11 2012 Apple's war with Google heats up Fri, Jun 8 2012 Facebook shares plumb new depths, valuation questioned Tue, May 29 2012 Analysis & Opinion Did Chesapeake miss Enron lessons? A Dell computer logo is seen on a laptop at Best Buy in Phoenix, Arizona, February 18, 2010. Credit: Reuters/Joshua Lott SAN FRANCISCO | Wed Jun 13, 2012 7:30am EDT SAN FRANCISCO (Reuters) - Dell Inc aims to raise its target on dividends and share buybacks to 20 to 35 percent of free cash flow, saying its corporate software and services business is on track to grow by an average of 10 percent annually until fiscal 2016. The No. 2 PC maker, which previously set a target of 10 to 30 percent, said in a statement on Tuesday it expects an "initial" dividend rate of 32 cents a share annually. CEO Michael Dell will tell investors at its annual analysts' conference in Texas that the company is delivering on a strategy of supplying everything from hardware to software for corporate customers, beefing up margins. The company has tried to expand beyond a consumer arena dominated by mobile devices such as Apple Inc's iPad. Shares of the company, which now derives more than 30 percent of its revenue from corporate solutions, services and software, climbed more than 3 percent to $12.35 in after-hours trade. "We continue to build out our data center, software and services capabilities," Dell said. "We have changed the conversation we`re having with our customers. We are a solutions company first, vertically focused." Dell said it generated $4.9 billion in cash flow from operations over the past four quarters, and ended fiscal 2013's first quarter with $17.2 billion in cash and investments. (Reporting by Edwin Chan; editing by Matthew Lewis) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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