(RTTNews) - Broadcom Inc. (AVGO), Monday announced that its Board of Directors has authorized a new share repurchase program to repurchase up to $10 billion of its common stock through December 31, 2025.
Broadcom Inc. (AVGO), Monday announced that its Board of Directors has authorized a new share repurchase program to repurchase up to $10 billion of its common stock through December 31, 2025.
"Today's announcement of a $10 billion share repurchase program reflects the Board's confidence in the strength of Broadcom's diversified semiconductor and infrastructure software product franchises. In particular, we are uniquely positioned in mission critical infrastructure software and enabling hyperscalers to drive innovation in generative AI into their expanding subscriber platforms," said Hock Tan, President and CEO of Broadcom Inc.
"The new share repurchase program reflects the Board's confidence in our strong cash flow generation and allows us to deliver value to our stockholders," said Kirsten Spears, CFO of Broadcom Inc.
Repurchases under the new share repurchase program may be made through a variety of methods, including open market or privately negotiated purchases.
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