Intel Corporation today announced that the company's former CEO Paul Otellini passed away in his sleep Monday, Oct. 2, 2017, at the age of 66. Paul Otellini became Intel's fifth chief executive officer in 2005. Under his leadership the company made important strategic, technological and financial gains. These included transforming operations and cost structure for long-term growth; assuming a leadership position in the server market segment; and maintaining profitability during the global recession.

Other accomplishments included signing on notable new customer engagements, such as winning the Apple PC business, and business partnerships and strategic acquisitions that expanded Intel's presence in security, software and mobile communications. On the financial front, Intel generated more revenue during his eight-year tenure as CEO than it did during the company's previous 45 years. In the last full year before he was named CEO, Intel had $34 billion in sales; by 2012, the number had grown to $53 billion.

Intel Corporation today reported first-quarter revenue of $12.6 billion, operating income of $2.5 billion, net income of $2.0 billion and EPS of $0.40. The company generated approximately $4.3 billion in cash from operations, paid dividends of $1.1 billion, and used $533 million to repurchase 25 million shares of stock.

"Amidst market softness, Intel performed well in the first quarter and I'm excited about what lies ahead for the company," said Paul Otellini, Intel president and CEO. "We shipped our next generation PC microprocessors, introduced a new family of products for micro-servers and will ship our new tablet and smartphone microprocessors this quarter. We are working with our customers to introduce innovative new products across multiple operating systems. The transition to 14nm technology this year will significantly increase the value provided by Intel architecture and process technology for our customers and in the marketplace."

Intel Corporation's board of directors has declared a 22.5 cents-per-share (90 cents-per-share on an annual basis) quarterly dividend on the company's common stock. The dividend will be payable on March 1, 2013 to stockholders of record on Feb. 7, 2013.

"With the payout of this quarterly dividend, Intel's dividend and stock buyback program will have returned approximately $119 billion to stockholders since the program's inception," said Intel president and CEO Paul Otellini. "This is a testament to our commitment to return cash to our stockholders as we continue to generate strong cash flow driven by the combination of new products and design wins from the lowest power portable devices to the most powerful data center servers."

Despite a modest outlook for the PC industry looking into 2013, Intel plans to begin production of its 4th generation Core processors, codenamed "Haswell," on schedule, in Q4-2012. In the run up to Q4, Intel has taken stepped down production to prevent swelling of inventories. A little earlier this week, the company declared good Q3 results, turning $13.5 billion in gross revenue, and $3 billion in net income. In its press-release, CEO Paul Otellini acknowledged a increasingly tough environment was taking shape for the industry. "Our third-quarter results reflected a continuing tough economic environment," he said.

Intel Corporation today announced that its board of directors has approved a 7 percent increase in the quarterly cash dividend to 22.5 cents per share (90 cents per share on an annual basis), beginning with the dividend that will be declared in the third quarter of 2012.

Today's announcement is the third dividend increase in the past 18 months. Intel's dividend has increased every year over the past decade and was recently recognized as Dividend Channel's1 "Top Dividend Stock of the Nasdaq 100."

Intel Corporation announced a number of executive promotions and rotations today that recognize outstanding performance and assign new responsibilities as part of Intel's commitment to management development.

As previously announced by Intel's board of directors, Andy Bryant will move from vice chairman of the board to full-time executive chairman at the company's Annual Stockholders' Meeting in May. In anticipation of that change, Intel is promoting two senior executives, one of whom will take on much of Bryant's prior responsibilities.