Symantec Announces Two-For-One Stock Split
CUPERTINO, Calif. – Dec. 17, 2001 Symantec Corp. (Nasdaq: SYMC), the world leader in Internet security, today announced that its Board of Directors has approved a two-for-one stock split, to be effected in the form of a stock dividend.
The record date for the stock split will be Jan. 17, 2002. On or about Jan. 31, 2002, the transfer agent will mail certificates representing one additional share for each share held on this record date. The stock split will increase the number of total shares outstanding from approximately 70,196,104 to 140,392,208 shares.
"Internet security continues to be one of the highest priorities for IT organizations and this has helped us sustain our business," said John W. Thompson, Symantec chairman, president and CEO. "This stock split reflects the confidence we have in the long-term growth opportunities for our company."
In order to give effect to the stock dividend in respect of the Exchangeable Shares of Delrina Corporation (TSE: DE), a Canadian subsidiary of Symantec, Delrina today announced that it has approved the split of its Exchangeable Shares on a two-for-one basis, subject to stock exchange approval. The Delrina Exchangeable Shares are exchangeable on a one-for-one basis into shares of common stock of Symantec. Upon the sub-division of the Exchangeable Shares, the number of shares outstanding will increase from approximately 1,193,401 to 2,386,802.
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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Symantec, the Symantec logo, VERITAS, and the VERITAS logo are trademarks or registered trademarks of Symantec Corporation or its affiliates in the United States and certain other countries. Additional company and product names may be trademarks or registered trademarks of the individual companies and are respectfully acknowledged.
FORWARD LOOKING STATEMENT: This press release contains forward-looking statements, including statements regarding anticipated activities and results, that involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ materially from results expressed or implied by this press release. Such risk factors include, among others: the risks that current global adverse economic conditions and reduced spending will continue or worsen; currency exchange fluctuations will adversely affect our results; the difficulty of developing and marketing products that compete effectively with others; new security threats and other economic, business, competitive and/or regulatory factors affecting Symantec's business generally. Actual results may differ materially from those contained in the forward-looking statements in this press release. Additional information concerning these and other risk factors is contained in the Risk Factors sections of the Company's previously filed Form 10-K for the year ending March 30, 2001 and the Form 10-Q for the quarter ended Sept. 28, 2001.
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