Synopsys (SNPS) Approves $500M Common Stock Buyback

Synopsys (NASDAQ: SNPS) announced that its Board of Directors has replenished its existing stock repurchase authorization back to $500 million.

"Synopsys is committed to our long-term operating model, a key component of which is an ongoing program of returning value to shareholders while continuing to invest in the business for future growth," said Trac Pham, chief financial officer of Synopsys. "We are pleased to be in a position to extend our share repurchase program with this new authorization, and we will continue to balance near-term returns of capital to stockholders, debt reduction and strategic investments to drive shareholder value."

Synopsys' Board of Directors originally approved the stock repurchase program in 2002 and has periodically replenished the program as funds are spent. The program does not obligate Synopsys to acquire any particular amount of common stock, and the program may be suspended or terminated at any time at Synopsys' discretion.

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