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Seagate: Press Release Dated October 21, 2015

The following excerpt is from the company's SEC filing.

Exhibit 99.1

For More Information Contact:

Eric DeRitis (408) 658-1561


CUPERTINO, CA Oct. 21, 2015

Seagate Technology plc (NASDAQ: STX) today announced that its Board of Directors has approved a 17 percent increase in the companys targeted regular cash dividend. The targeted annual dividend will increase from $2.16 to $2.52 per share and will continue to be paid quarterly. The first payment at the new quarterly rate of $0.63 per share is scheduled to be paid on November 20, 2015 to shareholders of record as of the close of business on November 6, 2015. The declaration and payment of any future quarterly dividends will continue to be at the discretion of the Board of Directors and will be dependent upon Seagates financial position, results of operations, available cash, cash flow, capital requirements and other factors deemed relevant by the Board.

Todays increase in our dividend targets reflects our confidence in Seagates ability to continue to generate sustainable operating cash flow and maintain a strong balance sheet, said Steve Luczo, Seagate chairman and chief executive officer. This is consistent with our capital allocation priorities we have previously articulated, including returning cash to shareholders through dividends and share redemptions.

About Seagate

Seagate creates space for the human experience by innovating how data is stored, shared and used. Learn more at

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