Symantec Corp. announced that its Board of Directors has approved a $1 billion share repurchase program.“This action reflects the confidence we have in our cash flow
generation and our ongoing commitment to increase shareholder value,”
said Enrique Salem, president and chief executive officer, Symantec.
This open-ended program is effective immediately. Repurchases will
be made in accordance with applicable securities laws in the open
market or in privately negotiated transactions. Depending on market
conditions and other factors, these repurchases may be commenced or
suspended from time to time without prior notice.
Symantec has approximately $57 million remaining under the current
program. Since June 2007, when the previous share authorization was
approved, Symantec has repurchased more than $1.9 billion of its shares.