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Symantec’s Strong Capital Return Policy

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Sep. 5 2018, Updated 9:00 a.m. ET

Total capital return trend

Symantec (SYMC) has maintained a strong share repurchase and regular dividend payment program. In the last five years, Symantec has returned $7.7 billion to its investors through dividends and share repurchases. The company returned an average of ~$1.5 billion per year to its stakeholders through share buybacks and dividend payments.

From the graph above, we can see the total capital returns made by Symantec in the last five years. The strong free cash flow generation is helping the company boost its capital return program for its investors.

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Dividend payment history and peer comparisons

Symantec has also retained its regular dividend payment policy. In fiscal 2018, the company paid $211.0 million in dividends, compared with $222.0 million paid in fiscal 2017. The current dividend yield for Symantec stood at 1.46%, compared with Microsoft’s (MSFT) dividend yield of 1.5% and IBM’s (IBM) dividend yield of 4.26%.

Share repurchase trend

At the end of the fiscal first quarter of 2018, Symantec returned ~$211 million in capital to its investors through buybacks and dividend payments, compared with $722.0 million paid in the fiscal first quarter of 2018. In fiscal 2018, the company didn’t repurchase any shares, compared with $500.0 million repurchased in fiscal 2017.

The company’s management authorized an additional $3.0 billion for share repurchases. At the end of March, Symantec held ~$800.0 million in shares to be repurchased under its buyback program without any expiry date.

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