Nvidia has announced that it plans to return $1 billion to its shareholders this fiscal year through a structured stock repurchase program, which includes the $100 million being repurchased in the current quarter. It will also include the company's quarterly dividend of $0.075 per share, which has amounted to about $50 million a quarter.
This announcement brings the projected total amount returned to shareholders to $1.2 billion since the company's quarterly dividend program commenced in November 2012.
"Nvidia's strategies are gaining traction in the market and make us confident in our ability to continue generating cash," said Jen-Hsun Huang, president and chief executive officer of Nvidia. "We are now broadening our program of giving back cash to our shareholders and plan to return a further $1 billion by the end of this fiscal year."
Further details of the plan will be provided next month with the release of Nvidia's financial results for the first quarter of FY 2014.