Juniper Announces $1.1 Bln Increase To Capital Return Plan - Quick Facts

(RTTNews) - Juniper Networks (JNPR) Thursday announced an expansion of its capital return plan and that its board has approved an increase to the share repurchase authorization by $1.1 billion. For the first nine months of 2014, $1.75 billion of share repurchases have been already executed.

The company intends to repurchase an additional $1.5 billion in aggregate share repurchases before end of the second quarter 2015.

Juniper said it is on track to return $4.1 billion to shareholders over a 3-year period (2014 - 2016). The new capital return plan is an increase of $1.1 billion above the prior commitment to return $3 billion to shareholders over the same period.

"Our expanded capital return commitment reflects our ongoing focus on delivering value to shareholders over the near- and long-term," said Shaygan Kheradpir, CEO of Juniper.

"We are confident in Juniper's future and believe current market conditions are providing us with a compelling opportunity to aggressively reduce share count while continuing to invest in the future growth of our business."

Also Juniper declared a quarterly cash dividend of $0.10 per share.