Western Digital is transferring its stock exchange listing to NASDAQ Global Select Market from the New York Stock Exchange.
WD shares will begin trading on the NASDAQ exchange beginning June 1, 2012, and the ticker symbol will remain WDC.
"This is part of a new beginning for the new WD following our recent acquisition of HGST to become one of the world?s leading storage solutions providers," said John Coyne, chief executive officer. "WD is focused on achieving sustained profitable growth and delivering value to our customers and shareholders. Listing our shares with NASDAQ provides us with a cost-effective stock listing and excellent services and public exposure."
The company also annoucned an increased authorization of $1.5 billion of its common stock under its share repurchase program.
The additional repurchase authorization is effective immediately and extends the program by five years, during which time additional shares can be authorized for repurchase.
"The decision to increase WD?s stock repurchase program is part of our capital allocation strategy to efficiently deploy cash to shareholders while maintaining strategic flexibility," said John Coyne, chief executive officer of WD. "We believe that Western Digital's stock is a compelling investment based on our ability to create additional value for our customers and shareholders in the growth markets we serve."