Contact Information: Robyn Jenkins-Blum Cisco Corporate Communications 408-853-9848 rojenkin@cisco.com Marisa Ross Cisco Investor Relations 408-527-9830 mariross@cisco.com
Cisco Authorizes Up to $10 Billion in Additional Stock Repurchases
| Source: Cisco
SAN JOSE, CA--(Marketwire - November 16, 2007) - Cisco (NASDAQ : CSCO ) announced that at a
regularly scheduled meeting of its board of directors on November 15th, the
board authorized up to $10 billion in additional repurchases of its common
stock, increasing the total authorized amount under the program to $62
billion. There is no fixed termination date for the repurchase program.
"We have consistently generated strong cash from operations," said Dennis
Powell, chief financial officer, Cisco. "This allows us to return a
significant amount of cash to our shareholders in the form of stock
repurchases while at the same time continue to make strategic internal
investments and acquisitions to drive future growth."
Since the inception of the repurchase program in September 2001 through the
close of Cisco's first quarter of fiscal year 2008 on October 27, 2007, the
company had repurchased and retired 2.3 billion shares at an average price
of $19.89 per share for an aggregate purchase price of $46.2 billion, with
a remaining authorized amount of $5.8 billion.
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