CUPERTINO, Calif. - Jan 31, 2006 - Symantec Corp. (Nasdaq: SYMC) today announced that its Board of Directors has approved a $1 billion share repurchase program. Symantec plans to execute an ongoing 10b5-1 plan for $125 million per quarter during fiscal year 2007, which begins in April. The company expects to use the remaining $500 million opportunistically starting in the March quarter.
During the December quarter, Symantec repurchased 80 million shares at an aggregated cost of $1.65 billion. As of Dec. 31, 2005, the company had approximately 1.042 billion shares outstanding and approximately $2.8 billion in cash and short-term investments.
Symantec is the world leader in providing solutions to help individuals and enterprises assure the security, availability, and integrity of their information. Headquartered in Cupertino, Calif., Symantec has operations in more than 40 countries. More information is available at www.symantec.com.
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