Western Digital Increases Dividends, Performance Disclosure Points to Future

On April 30 (local time), Western Digital Corporation (NASDAQ: WDC) filed a Form 8-K with the U.S. Securities and Exchange Commission, reporting its third-quarter fiscal 2026 results for the period ended April 3 and announcing a plan to raise its quarterly dividend. The company posted revenue of $3.34 billion, up 45% year-over-year, and a GAAP gross margin of 50.2%. Diluted earnings per share were $8.20 on a GAAP basis and $2.72 on a non-GAAP basis, while free cash flow for the quarter reached $978 million. For the fourth quarter, Western Digital guided to non-GAAP revenue of $3.65 billion, a gross margin of 51–52%, and EPS of about $3.25, and approved a 20% increase in its quarterly cash dividend to $0.15 per share, payable June 17. This filing reflects the routine disclosure of financial results and dividend decisions under SEC rules, rather than any health‐regulatory matters such as FDA approvals or sanctions.

Headquartered in California, Western Digital is a major data‐storage manufacturer that has restructured to focus on its hard disk drive (HDD) business. In February 2025, the company spun off its flash‐memory unit as an independent SanDisk entity and has since classified the flash business as discontinued operations, retaining only a minority stake. In February 2026, it simplified its brand name to WD, while keeping its legal corporate name and Nasdaq ticker symbol WDC unchanged.

Recent company updates highlight tightening supply amid surging AI demand. At its fiscal second-quarter 2026 earnings call in February, CEO Irving Tan said WD’s HDD production capacity is effectively fully contracted, with long-term supply agreements in place with major customers through 2027 and 2028. In April, SEC filings also disclosed the vesting of restricted stock units and subsequent share sales for tax purposes by key executives—including Chief Legal Officer Cynthia L. Tregillis and Senior Vice President of Global Operations Vidyadhara K. Gubbi—underscoring shifts in insider compensation and ownership structure.