Symantec Launches $1 Billion Accelerated Share Buyback Program

Shares of Symantec Corp. rose 1.3% in premarket trade Tuesday, after the security software company announced a $1 billion accelerated share buyback program. The program is part of its previously-announced $5.5 billion capital return program, which includes a special dividend of $4 a share payable March 22. The company expects to buy back a total of $2.3 billion worth of its shares between March 2016 and March 2017. The company said it retained AlixPartners for help with productivity and cost savings improvement.