Silicon Motion Tech (SIMO) Authorizes $54.3 Buyback
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Price: $10.78 -1.73%
Overall Analyst Rating:
BUY (
Down)
Dividend Yield: 5.5%
Revenue Growth %: -10.3%
Overall Analyst Rating:
BUY (
Down)Dividend Yield: 5.5%
Revenue Growth %: -10.3%
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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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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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