The Board of Directors of Symantec Corporation (NasdaqGS:SYMC) authorized a share repurchase program on January 23, 2012. Under the program, Symantec will repurchase up to $1 billion worth of its shares. Repurchases will be made in accordance with applicable securities laws in the open market or in privately negotiated transactions.

The share repurchase authorization underscore the board and management's confidence in the company's long-term business outlook and ability to generate significant free cash flow on a consistent basis. The company will return free cash flow to shareholders through a combination of dividends and share repurchases while still enabling the company to invest in its future. Symantec will continue to buy back its shares opportunistically.

Depending on market conditions and other factors, these repurchases may be commenced or suspended from time to time without prior notice. The plan commences in the company's fiscal year 2014, which begins on March 30, 2013.