The 1.6 billion share repurchase SHOULD stablize the share price as the 12 dollar dividend is received IMHO
"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."
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