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"NortonLifeLock (NASDAQ: NLOK) (the “Company”) today announced that its Board of Directors has declared a special, one-time cash dividend of $12 per share of NortonLifeLock Inc. common stock, returning over $8 billion of capital to shareholders. The dividend is payable on January 31, 2020 to all shareholders of record as of the close of business on January 23, 2020. Shareholders of record on January 23, 2020 must hold their shares through the close of January 31 payment date to receive the special dividend. The ex-dividend date will be February 3, 2020, the first business day after such payment date."
NortonLifeLock Declares $12 Special Dividend
Date : 01/09/2020 @ 4:15PM
Source : Business Wire
Stock : NortonLifeLock Inc (NLOK)
Quote : 27.75 0.25 (0.91%) @ 10:58AM
NortonLifeLock Declares $12 Special Dividend
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Company to Return Over 100% of the After-Tax Proceeds from Sale of Enterprise Assets
Company to Announce Fiscal Third Quarter 2020 Results on February 6, 2020
NortonLifeLock (NASDAQ: NLOK) (the “Company”) today announced that its Board of Directors has declared a special, one-time cash dividend of $12 per share of NortonLifeLock Inc. common stock, returning over $8 billion of capital to shareholders. The dividend is payable on January 31, 2020 to all shareholders of record as of the close of business on January 23, 2020. Shareholders of record on January 23, 2020 must hold their shares through the close of January 31 payment date to receive the special dividend. The ex-dividend date will be February 3, 2020, the first business day after such payment date.
This special dividend is in addition to the Company’s regular quarterly cash dividend of $0.125 per share that was last paid on December 18, 2019. Additionally, in August 2019, the board authorized a $1.6 billion share repurchase plan to be executed during the transition period as the Company transforms into a standalone, pure-play leader in consumer Cyber Safety.
“With this special dividend, and the $1.6 billion share repurchase program we recently put in place, we are delivering on our goal to return over 100% of the after-tax proceeds from the sale of our Enterprise Security assets to Broadcom," said Vincent Pilette, NortonLifeLock’s CEO. "We remain committed to returning cash to shareholders through dividends as well as share repurchases. With our strong cashflow, we believe we are well positioned to invest in and execute on our strategy to deliver industry leading consumer Cyber Safety solutions worldwide."
Fiscal Third Quarter Earnings Call Information
The Company announced that it will release its financial results for its fiscal third quarter 2020, which ended on January 3, 2020, after the U.S. market close on Thursday, February 6, 2020. NortonLifeLock will host a conference call that day at 5:00 p.m. ET/ 2:00 p.m. PT to discuss the results. The news release with the financial results will be accessible from NortonLifeLock’s Investor Relations website prior to the conference call.
Interested parties may access the conference call by dialing (877) 475-6198 or (970) 297-2372 and using conf
