Cisco Authorizes Up to $7 Billion in Additional Stock Repurchases

Cisco Systems' board of directors authorized up to $7 billion in additional repurchases of its common stock with no termination date. The board had previously authorized up to $13 billion in stock repurchases. The company said it continues to evaluate the best uses for its cash.


As of July 26, 2003, the company had repurchased and retired 548 million shares of Cisco common stock for an aggregate purchase price of $7.8 billion since inception of the program, and the remaining authorized amount for stock repurchases under the program was $5.2 billion.
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