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Nvidia says to return $1 billion to shareholders this fiscal year

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(Globalpost/GlobalPost)

SAN FRANCISCO (Reuters) - Nvidia Corp plans to return $1 billion (649.5 million pounds) to shareholders this fiscal year via dividend payments and share buybacks, the company said in a Thursday announcement that helped its shares trim earlier losses.

Shares in the chipmaker slid as much as 4 percent after it told investors at its annual analysts' day that it expects its mobile processor business to remain flat this year. They recovered after the buyback news, and were down just 0.5 percent at $12.77 in the afternoon.

(Reporting By Noel Randewich; Editing by Gary Hill)

http://www.globalpost.com/dispatch/news/thomson-reuters/130411/nvidia-says-return-1-billion-shareholders-fiscal-year-0