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Dell Expects Compounded Annual Growth In Adj. EPS Of 6+% Through FY26

Dell Technologies (DELL) said it will announce long-term guidance, a share repurchase program and outline its plans to begin paying quarterly dividends in its fiscal 2023 first quarter during its Securities Analyst Meeting taking place online Thursday at 10:00 a.m. ET.

The company expects compounded annual revenue growth of 3%-4% and compounded annual growth in non-GAAP earnings per share of 6+% through fiscal 2026.

The company will also announce that it expects net income to adjusted free cash flow conversion of 100% or better through this period.

The company noted that its third quarter fiscal 2022 expectations will remain consistent with the guidance described in the company's second quarter earnings call, including year-over-year revenue growth in the mid- to high teens and operating income up 1%-2% sequentially.

The company also said it will announce approval of a share repurchase program of up to $5 billion effective November 2021, upon the projected completion of the VMware spin-off.

In addition, the company will announce that it plans to initiate a quarterly dividend with an attractive yield in its fiscal 2023 first quarter, targeting an annual dividend of approximately $1 billion.

The company is targeting returning 40%-60% of adjusted free cash flow to shareholders through share repurchases and dividends, starting in fiscal 2023.

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