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Symantec lifts dividend after Q4 in-line with lowered expectations
2019-12-13 09:53:00| Telecompaper Headlines
(Telecompaper) Broadcom, which completed its buy of Symantec for USD 10.7 billion in November, has now increased its quarterly dividend by 23 percent sequentially to USD 3.25, after reporting revenues in line with expectations and record profitability for the full year despite a challenging market backdrop, CEO Hock Tan said. The company had lowered its revenue guidance in June by USD 2 billion on "anticipated headwinds from wireless", and namely on the back of export restrictions to one of the company's largest customers, Huawei. Looking ahead to 2020, it sees revenues going back somewhat to their previous expected levels, to USD 25 billion, plus or minus USD 500 million, up 11 percent from the fiscal year 2019 at the midpoint of guidance. Adjusted EBITDA is expected to expand by over USD 1 billion to USD 13.75 billion, plus or minus USD 250 million.
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Category:Telecommunications