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12/20/2012 5:16 PM ET

SanDisk Corp. (SNDK: Quote) announced that its Board of Directors has authorized an additional $750 million for common stock repurchases, increasing the total amount authorized for stock repurchases under the current program to $1.25 billion.

The company said the current repurchase program was established on Oct. 27, 2011 and will expire on Oct. 26, 2016.

To date under this program, the company has used about $234 million for stock repurchases and approximately $1.016 billion remains available.

SanDisk said that under the expanded program, stock repurchases may be made from time to time and the actual amount expended will depend on a variety of factors including market conditions, regulatory and legal requirements, corporate cash generation and other factors.

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