SanDisk Pledges 100% of Excess Cash to Shareholders at 2026 Investor Day

At its August 13, 2026 Investor Day, SanDisk (Nasdaq: SNDK) committed to returning 100% of excess cash to shareholders — every dollar left after capex, working capital, and balance-sheet obligations. The pledge sets no fixed dividend floor, meaning payouts will swing with NAND pricing cycles and free cash flow. Roughly a year post-spinoff from Western Digital, management is signaling capital-structure maturity. Specific revenue, margin, and capex targets were not disclosed in public materials.