PALO ALTO, Calif. – VMware (NYSE: VMW) and Dell Technologies today announced the completion of the spin-off of VMware from Dell Technologies. The spin-off from Dell Technologies provides VMware increased freedom to execute its multi-cloud strategy, a simplified capital structure and governance model and additional operational and financial flexibility.

The terms of the spin-off included an $11.5 billion [CD1] special cash dividend (the "Special Dividend") that resulted in a $27.40 per share dividend payment on November 1, 2021 (the "Payment Date") to all VMware stockholders as of close of business on October 29, 2021 (the "Record Date"). The ex-dividend date will be November 2, 2021, the first trading day following the Payment Date.

"VMware's mission is to deliver the trusted software foundation that accelerates our customers' innovation," said Raghu Raghuram, chief executive officer, VMware. "As a standalone company, we will continue to bring our multi-cloud strategy to life by providing our customers the power to accelerate their business and control their destiny in this new era."

VMware and Dell will continue to partner to provide differentiated solutions for their customers. The previously announced commercial agreement between VMware and Dell preserves and enhances the go-to-market synergies jointly developed over the last several years with continued support and service[CD2] for their mutual customers.

VMware Inc. (NYSE: VMW)