techPowerUp!: (PR) Seagate Technology Announces $2.5 Billion Share Repurchase

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(PR) Seagate Technology Announces $2.5 Billion Share Repurchase Apr 26th 2012, 20:30 Seagate Technology plc today announced that its Board of Directors has authorized the Company to repurchase up to $2.5 billion of its outstanding ordinary shares (the "April 2012 Authorization"). Seagate, as a result of the April 2012 Authorization and other current repurchase authorizations, currently has a total authorized unutilized capacity for repurchases of approximately $3.5 billion under these authorizations. "The repurchase authorization reflects the confidence that the Board and the executive management team have in Seagate's ability to generate cash, while still investing in innovation and growth opportunities," said Steve Luczo, CEO of Seagate. "Importantly, it supports and is consistent with our ongoing focus on returning value to our shareholders."

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