Nvidia says to return $1 bln to shareholders this fiscal year

SAN FRANCISCO, April 11 Thu Apr 11, 2013 2:08pm EDT

SAN FRANCISCO, April 11 (Reuters) - Nvidia Corp plans to return $1 billion to shareholders this fiscal year via dividend payments and share buybacks, the company said in a Thursday announcement that helped its shares trim earlier losses.

Shares in the chipmaker slid as much as 4 percent after it told investors at its annual analysts' day that it expects its mobile processor business to remain flat this year. They recovered after the buyback news, and were down just 0.5 percent at $12.77 in the afternoon.