Symantec Corporation announced that there will be fewer executives and middle management positions, resulting in a reduction of the workforce. This process is expected to be completed by the end of June 2013.

The company announced that it plans to initiate its first cash dividend, targeting a yield of approximately 2.5% based on Symantec's closing stock price of $20.86 on January 22, 2013. The first payment is expected to occur in the June 2013 quarter.

The company expects non-GAAP operating margins to increase by approximately 200 basis points in fiscal 2014. The company noted that its initial estimate for severance payments of approximately $275 million will impact cash flows in fiscal 2014.

The company expects to increase non-GAAP operating margins by another approximately 200 basis points in fiscal 2015. The company is targeting to reach 30% non-GAAP operating margins by the end of fiscal 2015.

The company expects to record a lower tax rate in the fourth quarter, driven by the catch-up effects of the recently reinstated research and development credit that got put back into place earlier this month.