Symantec Authorizes $1 Billion Share Repurchase Program
06 February 2015 - 8:02AM
Business Wire
Symantec Corp. (NASDAQ: SYMC) today announced that its Board of
Directors has approved a $1 billion share repurchase program.
"Returning cash to shareholders has long been one of Symantec’s
stated priorities,” said Michael A. Brown, Symantec president and
CEO. “Over the past ten years, Symantec has returned more than $10
billion to shareholders through the purchase of common stock.”
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. As
of January 2, 2015, Symantec had approximately $283 million
remaining under its previously authorized program.
About Symantec
Symantec Corporation (NASDAQ: SYMC) is an information protection
expert that helps people, businesses and governments seeking the
freedom to unlock the opportunities technology brings -- anytime,
anywhere. Founded in April 1982, Symantec, a Fortune 500 company,
operating one of the largest global data-intelligence networks, has
provided leading security, backup and availability solutions for
where vital information is stored, accessed and shared. The
company's more than 20,000 employees reside in more than 50
countries. Ninety-nine percent of Fortune 500 companies are
Symantec customers. In fiscal 2014, it recorded revenues of $6.7
billion. To learn more go to www.symantec.com or connect with
Symantec at: http://www.symantec.com/social/.
NOTE TO EDITORS: If you would like additional information
on Symantec Corporation and its products, please visit the Symantec
News Room at http://www.symantec.com/news. All prices noted are in
U.S. dollars and are valid only in the United States.
Symantec and the Symantec Logo are trademarks or registered
trademarks of Symantec Corporation or its affiliates in the U.S.
and other countries. Other names may be trademarks of their
respective owners.
FORWARD-LOOKING STATEMENTS: This press release contains
forward-looking statements that are based on Symantec’s current
expectations, including statements regarding Symantec’s plans and
expectations with respect to its new share repurchase program.
Factors that could cause actual results to differ materially from
those contained in such forward-looking statements include, but not
limited to future alternative uses for cash and general economic,
business and marketing conditions. Actual results may differ
materially from those contained in the forward-looking statements
in this press release. We assume no obligation, and do not intend,
to update these forward-looking statements as a result of future
events or developments. Additional information concerning these and
other risk factors are contained in the Risk Factors sections of
our Form 10-K for the year ended March 28, 2014 and our Form 10-Q
for the quarter ended October 3, 2014.
MEDIA CONTACT:Symantec Corp.Kristen
Batch650-527-5152kristen_batch@symantec.comorINVESTOR
CONTACT:Symantec Corp.Helyn
Corcos650-527-5523hcorcos@symantec.com
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