Intel slashes dividend by 66% in attempt to right itself

Associated Press

Intel is slashing its quarterly dividend by 66% as the chip maker attempts to rejuvenate sales in a market that where competition is increasing as some corporations and households cut back on tech spending. After posting a $664 million fourth-quarter loss last month and sticking by a pessimistic outlook from January, Intel said Wednesday that trimming its payout to shareholders will provide more flexibility as the company attempts to transform operations during a period of “macroeconomic uncertainty.” Intel is lowering its quarterly dividend to 12.5 cents per share, a cut of almost two-thirds from the 36.5 cents it has paid since early 2022.