Intel Corp has announced plans to lower its quarterly dividend as part of its strategy to improve capital in uncertain times. The US chipmaker has committed to cutting $3 billion in costs this year and between $8 and $10 billion in savings by the end of 2025. The move comes after Intel warned in January that it would lose money in the first quarter as two of its most important markets, personal computers and data centers, were weakening after two years of strong growth during the pandemic-led remote work.
As a result, Intel will cut its quarterly dividend to $0.125 per share, or 50 cents annually. The dividend will be payable on June 1 to stockholders of record on May 7. The company has reaffirmed its first-quarter forecast issued in January.
