Wednesday, March 5, 2008

Juniper Announces Stock Repurchase Plan of up to $1 Billion

Juniper Networks' board of directors approved a new stock repurchase program which enables the company to purchase up to $1 billion of the company's common stock. In conjunction with this new authorization, the company will initiate an on-going, share maintenance plan designed to offset dilution from the issuance of shares related to its employee stock plans.

Juniper noted that this new program is in addition to the $2 billion stock repurchase program approved in 2006 and 2007. To date, the company has repurchased approximately $1.7 billion of its stock under the $2 billion authorized in 2006 and 2007.