SanDisk Boosts Stock Buyback Effort
SanDisk is to expand its share buyback program, the company announced in an official press release. Its board authorized an additional $750 million for the purpose. That amount brings the total to around $1.25 billion.
The current repurchase program was launched by the company in October 2011.
The buyback focuses solely on the flash memory maker's common stock. Since this past summer, those shares have generally traded in a narrow range of $40-$44.
SanDisk does not currently offer a dividend. It posted revenues of $1.27 billion and net profit of $76.5 million in its most recent quarter.
The article SanDisk Boosts Stock Buyback Effort originally appeared on Fool.com.Eric Volkman owns shares of SanDisk. The Motley Fool has no positions in SanDisk. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.