2 Dividend Changes to Know Now: Western Digital Corp., Atlantic Tele-Network

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Western Digital Corp. (NYSE:WDC): Western Digital adopts dividend policy, increases share buyback. Western Digital announced a capital allocation plan that includes the adoption by its board of a cash dividend policy and an increased authorization of $1.5B under its share repurchase program. At its Investor Day, the company indicated that beginning in FY13, it is targeting a return to shareholders of approximately 50% of its free cash flow through a mix of cash dividends and share repurchases. Under the dividend policy, the company intends to pay a quarterly cash dividend on its common stock beginning with the quarter ending Sept. 28. Directors declared a dividend of 25c per common share, payable on Oct. 15 to the company’s shareholders of record as of Sept. 28. The additional repurchase authorization is effective immediately.

Atlantic Tele-Network, Inc. (NASDAQ:ATNI): Atlantic Tele-Network raises quarterly dividend 8.7% to 25c from 23c per share. The dividend is payable on October 10, on all common shares outstanding to stockholders of record as of September 30.

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