Check Point Expands Buyback

The company will repurchase up to $600 million of shares.
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Check Point Software

(CHKP) - Get Report

announced Monday it will repurchase up to $600 million of its stock.

The security company said the program does not have a time limit or require the company to buy a set number of shares. The company will use its available working capital to buy back the shares.

As of March 31, the company had 246 million outstanding shares.

Since its initial repurchase program began in October 2003, Check Point has bought about 28.2 million shares for about $600 million.

Check Point shares slipped on Monday, trading down 32 cents, or 1.7%, to $18.24.