Symantec Authorizes $2 Billion Share Repurchase Program

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.

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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

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