In a long-anticipated move, PC maker Dell Inc. (DELL) on Tuesday unveiled plans to initiate a regular quarterly dividend.

The Round Rock, TX-based company said it plans to pay a quarterly dividend of 8 cents per share, or 32 cents per share on an annualized basis. The first payout will be made in the third quarter of this year.

Based on Tuesday’s closing price of $11.97, the planned dividend would amount to a 2.7% yield.

CFO Brian Gladden commented, “The payment of a quarterly cash dividend to Dell’s shareholders adds another element to our disciplined capital allocation strategy.”

Dell shares closed up nearly 1% in Tuesday trading, and the shares posted gains of up to 3% after hours following the announcement.

Dell Inc. (DELL) is not currently rated by Dividend.com.

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