Symantec Corp. (Nasdaq:SYMC) anounced a $2 billion share repurchase program. The new program follows completion of the $1 billion share repurchase program announced in January 2007 — repurchasing 54 million shares at an average price $18.51. In the past two years, Symantec has repurchased nearly $7 billion of its shares.
Symantec helps customers protect their infrastructure, information, and interactions by delivering software and services that address risks to security, availability, compliance and performance.
PAYOUT YIELD ANALYSIS
With 901 million shares outstanding, the $2 billion share repurchase will yield $2.22 per share. The company doesn’t pay a dividend, so the Total Payout will be $2.22 per share. At a share price of $20, the projected Total Payout Yield is 11.1%.
- Payout Yield Staff