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Xilinx Increases Quarterly Cash Dividend and Share Repurchase Authorization
"Xilinx business has consistently generated healthy free cash flow. Our Board of Directors and our management team remain committed to returning value to our stockholders and continue to recognize dividends as a key element of this strategy," stated Wim Roelandts, chairman and chief executive officer.
Xilinx today also announced that its Board of Directors has approved the authorization, effective immediately, to repurchase up to $1.5 billion of its common stock. This amount is in addition to the approximately $175 million remaining from Xilinx's previous share repurchase program.
Under this authorization, Xilinx intends to repurchase its common stock through an accelerated share repurchase program and/or from institutional investors in negotiated transactions, as well as in the open market pursuant to Xilinx's existing share repurchase program. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements and other market conditions.
This release contains forward-looking statements that are subject to risks and uncertainties. Actual events and results may differ materially from those in the forward-looking statements and are subject to risks and uncertainties including the continued profitability and ability to generate cash at a rate necessary to continue paying cash dividends or repurchasing stock and other risk factors listed in our most recent Form 10-K.
Xilinx, Inc. (NASDAQ: XLNX) is the worldwide leader of programmable logic solutions. Additional information about Xilinx is available at http://www.xilinx.com.
SOURCE Xilinx, Inc. 02/26/2007
CONTACT: Maria Quillard of Xilinx, Inc., +1-408-879-4988, email@example.com
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8149 02/26/2007 16:10 EST http://www.prnewswire.com