Juniper Networks (JNPR) Raises Share Buyback Authorization to $1.9B (from $900M)

Juniper Networks (NYSE: JNPR), a leader in secure, AI-driven networks, today announced that its Board of Directors has approved a $1 billion stock buyback authorization increase, adding to the existing buyback authorization, which has $900 million remaining for a total of $1.9 billion. Juniper plans to enter a $200 million accelerated share repurchase program (“ASR”) in Q4 2019 and intends to continue to be opportunistic with its share repurchases thereafter.

“Our increased stock buyback authorization reinforces our ongoing commitment to delivering total shareholder value,” said Ken Miller, chief financial officer, Juniper Networks. “The increase in the buyback authorization, and anticipated ASR program reflect our confidence in our ability to generate cash and our long-term strategy.”

Juniper will continue to review its capital return policy over time, subject to capital availability, company financial performance, economic outlook and other relevant considerations. The stock buyback program, which has no expiration date, may be terminated or suspended at any time.

Juniper today also reported preliminary financial results for the three months ended September 30, 2019 and provided its outlook for the three months ending December 31, 2019. Additional details can be found in the Investor Relations section of the Company's website.

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