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Silicon Motion Tech (SIMO) Authorizes $54.3 Buyback

January 22, 2013 8:09 AM EST Send to a Friend
Silicon Motion Technology Corporation (Nasdaq: SIMO) announces today that its Board of Directors has authorized a new share repurchase program and has also approved its first quarterly cash dividend.

The new stock repurchase program authorizes the Company to purchase up to $40 million of its American Depositary Shares ("ADS") over a 12 month period. Since authorizing its first stock repurchase program in March 2008, the Company has spent $54.3 million to repurchase and retire 6.2 million ADSs.




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