Intel Slashes Dividend by 65 Percent as It Pushes to Cut Costs After Big Loss

Intel CEO Pat Gelsinger speaks during a panel session of the World Economic Forum (WEF) in Davos, Switzerland, on May 25, 2022. Hollie Adams/Bloomberg via Getty Images

Intel Corp. slashed its quarterly dividend by almost two-thirds, as it proceeds to cut costs after major losses.

The U.S.-based chip manufacturer will reduce its fourth quarterly dividend from $0.365 to $0.125, a loss of more than 65 percent, the chipmaker announced on Feb. 22.