REDWOOD SHORES, Calif., April 12 /PRNewswire-FirstCall/ -- Oracle Corporation (Nasdaq: ORCL) today announced that its Board of Directors has authorized the repurchase of up to an additional $4.0 billion of common stock under its share repurchase plan. With this increase, the Company currently has authorization to repurchase approximately $4.7 billion of common stock. The repurchase plan is designed to return cash to stockholders and offset the effects of share issuances under Oracle's stock option and employee stock purchase plans. (Photo: NewsCom: http://www.newscom.com/cgi-bin/prnh/20020718/ORCLLOGO ) Oracle's Board of Directors first approved a share repurchase plan in 1992 and over the years has expanded the program several times by either increasing the authorized number of shares to be repurchased or by authorizing a fixed dollar amount expansion. From the inception of the program, the Company has returned approximately $25.8 billion to its stockholders, including approximately $3.46 billion so far in the current fiscal year. The stock repurchase authorization does not have an expiration date and the pace of repurchase activity will depend on factors such as working capital needs, cash requirements for acquisitions, repayment of debt, including the $1.7 billion in commercial paper issued this week to pay for the Hyperion acquisition, stock price, and economic and market conditions. Stock repurchases may be effected from time to time through open market purchases or pursuant to a Rule 10b5-1 plan. The stock repurchase program may be accelerated, suspended, delayed or discontinued at any time. Oracle Corporation is the world's largest enterprise software company. For more information about Oracle, including supplemental financial information, please visit Oracle on the web at www.oracle.com/investor or call Investor Relations at (650) 506-4073.
SOURCE Oracle Corporation