Broadcom Begins $12B Buy Back
April 13, 2018
has authorized the repurchase by the Company of up to $12 billion of its
common stock. The authorization is effective immediately until November
3, 2019, the end of Broadcom’s fiscal year 2019.
“The initiation of a stock repurchase program enhances our capital
allocation strategy and provides us with a complementary tool to deliver
value to our shareholders,” said Tom Krause, Broadcom’s Chief Financial
Officer. “We are maintaining our policy of delivering 50% of trailing
12-month free cash flow to shareholders in the form of dividends while
adding the ability to use the balance of our free cash flow not only for
acquisitions but also for opportunistic buybacks,” continued Mr. Krause.
repurchases may be made through a variety of methods, including open
market or privately negotiated transactions. The timing and number of
shares repurchased will depend on a variety of factors, including price,
general business and market conditions, and alternative investment
opportunities. Broadcom’s capital return program does not obligate it to
repurchase any specific number of shares or continue a dividend for any
fixed period, and may be suspended or discontinued at any time.