Nvidia has announced that it plans to return US $1 billion in the form of stock buybacks and dividend payments to its shareholders in this current fiscal year.

Nvidia previously disclosed that it has returned US $200 million in capital to its shareholders since November, with US $100 million in shares repurchased in this fiscal year and US $100 million in dividends paid in current and previous quarters. The new US $1 billion will be added and will total to US $1.2 billion of capital returned to shareholders since the company announced its quarterly dividend program in November last year.

Nvidia's President and CEO, Jen-Hsun Huang noted that company is quite confident in their ability to continue generating cash thanks to strategies that are gaining traction in the market.

More details on the plan will be revealed next month when Nvidia will release its financial results for the first quarter of fiscal 2014.
Source: Legitreviews.com