Symantec CorporationNASDAQ
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  • Thu, Nov. 17, 10:00 AM
    | Thu, Nov. 17, 10:00 AM
  • Thu, Feb. 4, 4:38 PM
    • Symantec (NASDAQ:SYMC) announces in tandem with its FQ3 report P-E firm Silver Lake is investing $500M in the company, and that the company is issuing a $4/share ($2.3B) special dividend. The dividend is payable on March 22 to shareholders on record as of March 8.
    • At the same time, Symantec's regular quarterly dividend is being cut in half to $0.075/share to "reflect reduced projected domestic cash flow, following the sale of Veritas, and the one-time special dividend." In addition the company is now targeting $400M/year in cost savings (with the help of job cuts?) by the end of FY18 (ends March '18).
    • The news comes less than a week after Symantec closed the sale of its Veritas storage software unit to Carlyle, a deal that yielded after-tax proceeds of $5.3B. The total size of Symantec's capital return program (includes the dividend, as well as buybacks) is now $5.5B, up from a prior $4B+.
    • The program is set to be finished in March 2017, and will be financed through a mixture of the Veritas proceeds, Silver Lake's money, available cash, and new debt. Silver Lake is buying 2.5% convertible senior notes due 2021. The notes sport a conversion price of $21/share. Silver Lake managing partner Ken Hao is joining the board.
    • FQ4 guidance is in-line: Revenue of $885M-$915M and EPS of $0.24-$0.27 vs. a consensus of $901.7M and $0.25. FQ3 enterprise security revenue fell 3% Y/Y to $495M (+1% exc. forex); consumer security revenue fell 10% to $414M (-6% exc. forex).
    • Symantec's FQ3 results, earnings release
    • Update (4:39PM ET): After coming off a halt, Symantec is up 8.7% after hours.
    | Thu, Feb. 4, 4:38 PM
  • Feb. 5, 2015, 4:52 PM
    • Symantec (NASDAQ:SYMC) declares $0.15/share quarterly dividend, in line with previous.
    • Forward yield 2.31%
    • Payable March 18; for shareholders of record Feb. 26; ex-div Feb. 24.
    | Feb. 5, 2015, 4:52 PM
  • May 7, 2013, 4:12 PM
    Symantec (SYMC): FQ4 EPS of $0.44 beats by $0.06. Revenue of $1.748B (+4% Y/Y) beats by $18M. $125M worth of shares repurchased. Company initiates $0.15/share quarterly dividend (2.5% yield). Shares -0.1% AH. (PR)
    | May 7, 2013, 4:12 PM