Intel Corporation today reported fourth-quarter and full-year 2020 financial results. The company also announced that its board of directors approved a cash dividend increase of five percent to $1.39 per share on an annual basis. The board declared a quarterly dividend of $0.3475 per share on the company's common stock, which will be payable on March 1 to shareholders of record on February 7.

"We significantly exceeded our expectations for the quarter, capping off our fifth consecutive record year," said Bob Swan, Intel CEO. "Demand for the computing performance Intel delivers remains very strong and our focus on growth opportunities is paying off. It has been an honor to lead this wonderful company, and I am proud of what we have achieved as a team. Intel is in a strong strategic and financial position as we make this leadership transition and take Intel to the next level."Fourth-quarter revenue exceeded prior expectations by $2.6 billion driven by record PC-centric revenue with PC unit volumes up 33 percent YoY led by record notebook sales. The company also achieved better-than-expected data-centric results, including record Mobileye revenue.

2020 marked Intel's fifth consecutive year of record revenue. The Client Computing Group, Data Center Group, Non-volatile Memory Solutions Group, and Mobileye all achieved record full-year revenue. In 2020, the company invested $13.6 billion in research and development and $14.3 billion in capital expenditures while focusing to strengthen its core CPU business, improve execution and accelerate growth.

Q4'20 Business Highlights

• Started production of 10 nm-based 3rd Gen Intel Xeon Scalable processors ("Ice Lake"), ramping in Q1.
• Launched 11th Gen Intel Core processors ("Tiger Lake"); announced 11th Gen Intel Core S-Series desktop processors ("Rocket Lake"), now shipping.
• Entered discrete graphics market with Intel Iris Xe MAX graphics, Intel's first Xe-based discrete GPU.
• Announced Amazon Web Services selected Intel's Habana Gaudi AI processors for EC2 training.
• Delivered gold release of Intel oneAPI developer toolkit.
• Announced expanded network infrastructure solutions portfolio.
• Introduced new Intel Optane SSD series and 3rd gen Intel Optane persistent memory "Crow Pass" for enterprise and cloud customers.