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Intel announces $20 billion increase in stock buybacks (from $4.5 billion)

posted by martyb on Sunday October 27 2019, @06:25PM   Printer-friendly

An Anonymous Coward writes:

"Intel today announced its board of directors has approved a $20 billion increase in its stock repurchase program authorization. In the third quarter, the company generated approximately $10.7 billion in cash from operations, paid dividends of $1.4 billion, and used $4.5 billion to repurchase 92 million shares of stock".

https://www.intc.com/files/doc_financials/2019/Q3/Q3-2019-Earnings-Release.pdf

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  • (Score: 1, Insightful) by Anonymous Coward on Sunday October 27 2019, @08:10PM (1 child)

    by Anonymous Coward on Sunday October 27 2019, @08:10PM (#912514)

    It does stand to help the middle class because Intel is widely held.
    It is not sustainable though, and could have helped drive security and innovation, had the market not demanded the payout of the surplus.

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  • (Score: 3, Informative) by ben_white on Monday October 28 2019, @12:56AM

    by ben_white (5531) on Monday October 28 2019, @12:56AM (#912581)

    Only about 50% of Americans own stocks, and vast majority of stock is held by a much small number of Americans.

    (Source https://www.politifact.com/california/statements/2018/sep/18/ro-khanna/what-percentage-americans-own-stocks/) [politifact.com]