MILPITAS, Calif., May 7, 2014 – SanDisk Corporation (NASDAQ: SNDK), a global leader in flash storage solutions, today announced that the Board of Directors has approved a 33 percent increase in the company’s quarterly dividend payment to $0.30 per share ($1.20 per share on an annual basis). This planned increase will go into effect for dividends declared beginning in the third fiscal quarter of 2014, one year after the dividend program was initiated. Future dividend payments are subject to consideration and declaration by the Board of Directors. “This dividend increase underscores the confidence we have in SanDisk’s business and reflects our commitment to sharing our success with our stockholders,” said Judy Bruner, executive vice president, administration and chief financial officer.
SanDisk Corporation (NASDAQ: SNDK), a Fortune 500 and S&P 500 company, is a global leader in flash storage solutions. For more than 25 years, SanDisk has expanded the possibilities of storage, providing trusted and innovative products that have transformed the electronics industry. Today, SanDisk’s quality, state-of-the-art solutions are at the heart of many of the world's largest data centers, and embedded in advanced smart phones, tablets and PCs. SanDisk’s consumer products are available at hundreds of thousands of retail stores worldwide. For more information, visit www.sandisk.com.
© 2014 SanDisk Corporation. All rights reserved. SanDisk and the SanDisk logo are trademarks of SanDisk Corporation, registered in the United States and other countries. Other brand names mentioned herein are for identification purposes only and may be the trademarks of their respective holder(s).
This news release contains certain forward-looking statements, including the amount, timing and frequency of any future dividends, our future business prospects and our commitment to return capital to stockholders, that are based on our current expectations and involve numerous risks and uncertainties that may cause these forward-looking statements to be inaccurate. Risks that may cause these forward-looking statements to be inaccurate include among others: the timing and amount of any future dividends is subject to consideration and declaration by our Board of Directors and will depend upon a number of factors, including our future results of operations, our financial condition and capital requirements, business conditions, covenants under loan agreements and other contractual arrangements; changes in our results of operations or financial conditions or strategic priorities may lead to a modification, suspension or cancellation of our dividend program or overall capital return program, which may occur at any time at our discretion; our business may not perform as expected; we may need to use our free cash flow for other aspects of our business; or the other risks detailed from time-to-time in our Securities and Exchange Commission filings and reports, including, but not limited to, our most recent quarterly report on Form 10-Q. We do not intend to update the information contained in this news release.