NVIDIA Raises Dividend By 22%; To Return $1.25 Bln To Shareholders In FY18

(RTTNews) - NVIDIA (NVDA) announced a 22 percent increase in its quarterly cash dividend to $0.14 per share from $0.115 per share, to be paid with its next quarterly cash dividend on December 19, 2016, to all shareholders of record on November 28, 2016. During the first nine months of fiscal 2017, NVIDIA paid $509 million in share repurchases and $185 million in cash dividends. The company intends to return $1.0 billion to shareholders in fiscal 2017.

For fiscal 2018, NVIDIA intends to return $1.25 billion to shareholders through ongoing quarterly cash dividends and share repurchases. The company's board has authorized an additional $2.00 billion under the company's stock repurchase program for a total of $2.96 billion available through the end of December 2020.

For the third-quarter of 2017, Non-GAAP earnings per share were $0.94, up 104 percent from $0.46 a year earlier. Revenue was $2.00 billion, up 54 percent from $1.30 billion a year earlier.

For the fourth quarter of fiscal 2017, the company expects: revenue to be $2.10 billion, plus or minus two percent; GAAP and non-GAAP gross margins to be 59.0 percent and 59.2 percent, respectively, plus or minus 50 basis points.

Shares of NVIDIA were up more than 12% after hours.