Dell Technologies announces payout ratio for special dividend of VMware spin-off

ROUND ROCK, Texas, October 29, 2021 / PRNewswire / – Dell Technologies (NYSE: DELL) Announces Final Payout Ratio for Special Dividend of Its VMware, Inc. Shares Class A and Class B common stock to shareholders of Dell Technologies is 0.440626 . As a result, Dell Technologies shareholders will receive 0.440626 of one VMware Class A common share for each Dell Technologies common share held in the 5 p.m. ET to October 29, 2021. Each VMware Class B common share will be converted into one VMware Class A common share as part of the distribution and prior to the receipt by Dell Technologies shareholders of such shares. Dell Technologies shareholders will receive cash in lieu of any fractional Class A common stock of VMware.

Distribution should be completed by November 1, 2021, following the satisfaction of certain closing conditions.

Information on the above matters and other information can be found in the company’s current report on Form 8-K provided to the Securities and Exchange Commission.

About Dell Technologies
Dell Technologies (NYSE: DELL) helps organizations and individuals build their digital futures and transform the way they work, live and play. The company provides its customers with the industry’s broadest and most innovative portfolio of technologies and services for the data age.

Copyright © 2021 Dell Inc. or its affiliates. All rights reserved. Dell Technologies, Dell, EMC, and Dell EMC are trademarks of Dell Inc. or its subsidiaries. Other marks may be trademarks of their respective owners.

Dell Technologies forward-looking statements

This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The words “may”, “will”, “anticipate”, “estimate” , “Expect”, “intend”, “,” -, “. Forward-looking statements contained in this press release include statements by Dell Technologies regarding its expectations regarding the future growth of the company in terms of sales, operating income and non-GAAP diluted earnings per share, its future net income in conversion of adjusted free cash flow, its adjusted free cash flow return to shareholders, approval by the board of a quarterly dividend program and the annual dividend rate and other terms of a such program if approved, and its corporate family credit rating upon completion of the previously announced spin-off of VMware, Inc. (“VMware”), and the timing, completion and expected effects of the split-off transaction and related matters. The expectations expressed or implied in these forward-looking statements may not prove to be correct. All forward-looking statements speak only as of the date hereof and are based on current expectations and involve a number of assumptions, risks and uncertainties that could cause actual results to differ materially from those statements. prospective.

Dell Technologies may not be able to complete the proposed spin-off transaction on the contemplated or other acceptable terms or at all due to a number of factors, including the occurrence of an event, change or other circumstances which could result in termination of the definitive agreement governing the proposed transaction, failure to secure adequate sources of funding for the special dividend from VMware, failure by VMware to meet certain agency criteria rating and the effect of the transaction announcement on Dell Technologies ‘ability to retain and hire key personnel and maintain relationships with its customers and suppliers, as well as on Dell Technologies’ results of operations and businesses. in general. Other risks, uncertainties and other factors that could affect Dell Technologies’ ability to execute its capital allocation strategy and results in future periods include, without limitation, the following: effects of the COVID-19 pandemic; competitive pressures; Dell Technologies’ dependence on third party suppliers for products and components, including dependence on single source or limited source suppliers; Dell Technologies’ ability to obtain competitive prices from its suppliers; unfavorable global economic conditions and instability in financial markets; Dell Technologies’ execution of its growth, business and acquisition strategies; the success of Dell Technologies’ profitability measures; Dell Technologies’ ability to effectively manage solution and product and service transitions; Dell Technologies’ ability to provide high quality products, software and services; cyber attacks or other data security incidents; Dell Technologies’ foreign operations and its ability to generate substantial net income outside the United States; The sales mix of Dell Technologies products, services, customers and geographies and seasonal sales trends; the performance of Dell Technologies’ channel partners; access to capital markets by Dell Technologies or its customers; significant impairment of the value of goodwill or intangible assets; weak economic conditions and the effect of additional regulation on Dell Technologies’ financial services business; counterparty default risks; Dell Technologies’ loss of any contracts for ISG services and solutions and its ability to perform such contracts at their estimated costs; Dell Technologies’ loss of government contracts; Dell Technologies’ ability to develop and protect its proprietary intellectual property or to license intellectual property developed by third parties on commercially reasonable and competitive terms; disruptions in Dell Technologies infrastructure; Dell Technologies’ ability to effectively hedge its exposure to currency and interest rate fluctuations; the expiration of tax holidays or favorable tax rate structures, or unfavorable results in tax audits and other tax compliance matters; depreciation of portfolio investments; unfavorable results of legal proceedings; compliance requirements of changing environmental and safety laws or other laws; the effect of armed hostilities, terrorism, natural disasters and public health problems; Dell Technologies’ dependence on IT services Michel Dell and key employees; Dell Technologies’ level of indebtedness; and the impact of VMware’s financial performance.

This list of risks, uncertainties and other factors is not complete. Dell Technologies discusses some of these matters in more detail, as well as certain risk factors that could affect the business, financial condition, results of operations and prospects of Dell Technologies, in its reports filed with the SEC, including Dell Technologies Annual Report on Form 10-K for the year ended January 29, 2021, quarterly reports on Form 10-Q and current reports on Form 8-K. These documents can be viewed on the SEC’s website at Any or all of the forward-looking statements made by Dell Technologies may prove to be incorrect and may be affected by inaccurate assumptions that Dell Technologies may make or by known or unknown risks, uncertainties and other factors, including those identified herein. communicated. Therefore, you should not place undue reliance on any forward-looking statements contained in this press release, which speak only as of their date. Dell Technologies does not undertake to update, and expressly disclaims any obligation to update, its forward-looking statements, whether as a result of circumstances or events occurring after the date of their creation, new information or otherwise.

SOURCE Dell Technologies

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