Xilinx board approves buyback of $1 billion debt, equity securities

New York, May 16 – Xilinx, Inc. said its board of directors authorized the repurchase of up to $1 billion of the company’s debt and equity securities.

The timing will depend upon market conditions and other factors, according to an 8-K filing with the Securities and Exchange Commission.

Xilinx said that over the past five years the company has repurchased 43 million shares of common stock for $1.8 billion.

“Over the past 10 years, Xilinx has returned 100% of operating cash flow to stockholders through a combination of dividend and repurchase,” said Moshe Gavrielov, Xilinx President and chief executive officer, in the filing.

“Our repurchase authorization signals a high level of confidence in Xilinx’s growth prospects as well as in our continued ability to consistently generate healthy operating cash flow.”

Xilinx is a San Jose, Calif., semiconductor manufacturer.

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