SanDisk Corp. (SNDK) 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.
by RTT Staff Writer
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