Cisco acquired 7 billion USD of its shares

Cisco has announced that its board of directors agreed to buy back $ 7 billion of its regular shares in the framework of the stock redemption program launched five years ago.

Cisco's new move is the decision to buy back the largest stock it has ever made. So far, Cisco has acquired about $ 36.9 billion of shares since the program was launched in September 2001.

Ending the first quarter of this year (October 28), Cisco bought 2 billion shares with an average price of 18.51 USD / share.

Cisco's board of directors once agreed to buy back 40 billion shares. And so, so far, the stock repurchase program has only 3.1 billion USD left.

" We continue to believe that its stock repurchase program will be an optimal way for our shareholders ," said Dennis Powell, Cisco's chief financial officer.