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.

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