Investors responded positively to the news, pushing Dell's shares up 2.76% to $12.30 before market open. Dell's stock closed up 0.93% on Tuesday.
In a statement released after market close on Tuesday, the Texan tech giant announced plans for a quarterly payment beginning in the third quarter of the current fiscal year.
Dell expects the initial dividend rate to be 32 cents a share per year, or 8 cents a share quarterly. Based on Dell's Monday closing price of $11.86, the dividend yield would be 2.7%.Zynga (ZNGA) rose 1.61% to $5.06 before market open after Evercore Partners upgraded the company to equal-weight from underweight on Tuesday's pullback. Evercore cited the company's better valuation and expected new game releases at its Zynga Unleashed event later this month. Shares of Zynga plummeted 10.27% on Tuesday after Cowen released a report that said the company's gaming daily active users dropped by 8.2% in May. Zynga was also one of the most active premarket Nasdaq stocks on share volume of 188,038. Social networking giant and Zynga partner Facebook (FB) rose 0.36% to $27.50 on Wednesday. Facebook shares, which are down almost 28% since the company's headline-grabbing IPO last month, closed up 1.46% on Tuesday. --Written by James Rogers in New York. Follow @jamesjrogers >To submit a news tip, send an email to: email@example.com. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices.
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