Dell to add $5 billion to its share buybacks, aims to grow quarterly dividend by 10% or more annually through 2028

Dell Technologies Inc.
DELL,
-0.06%
said Thursday it is adding $5 billion to its share buyback authorization, adding to the remaining $5 billion. In a statement released ahead of an investor day, the company said it’s also planning to raise its quarterly dividend by 10% or more annually through fiscal 2028. The company is targeting compounded annual revenue growth of 3% to 4% and adjusted per-share earnings growth of 8% or more over the long term. “We are incredibly well positioned for this next wave of technology expansion, growth and progress,” said Michael Dell, chairman and chief executive officer , in a statement. “Whether it’s workplace solutions, multicloud, intelligence at the edge, or AI and now GenAI — all of it takes a whole lot of what we offer.” The stock fell 3% premarket but is up 67% in the year to date, while the S&P 500
SPX,
+0.81%
has gained 11%.