Western Digital Corp. today announced that the board of directors declared a cash dividend for the quarter ending Jan. 1, 2016, of $0.50 per share of common stock (the "cash dividend"). The cash dividend will be paid on Jan. 15, 2016, to the company's stockholders of record as of Jan. 1, 2016.

The amount of future dividends under the company's dividend policy, and the declaration and payment thereof, will be based upon all relevant factors, including the company's financial position, results of operations, cash flows, capital requirements and restrictions under the company's existing credit agreement, and shall be in compliance with applicable law. The board retains the power to modify, suspend or cancel the company's dividend policy in any manner and at any time as it may deem necessary or appropriate in the future.