![]() ![]() ![]() ![]() A year ago, after deducting the value of its VMware stake, Dell’s share price ascribed virtually no value to its remaining tech hardware business. Wall Street has also been wary of the complex financial engineering used to hold together the heavily indebted group. As part of the spinoff, VMware is paying a special dividend to shareholders of about $12 billion, helping Dell lighten a remaining net debt load that stood at $32 billion at the end of July. In other moves to try to appeal to a wider group of investors, Dell has said it will start paying a dividend.ĭell has been weighed down by debt after borrowing about $70 billion to finance its dealmaking. After the spinoff, Dell will be “a simpler company with a better capital structure,” said Krish Sankar, an analyst at Cowen.
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