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IBM to spend $5 billion more on stock buyback

IBM to spend $5 billion more on stock buyback

IBM's board has approved $5 billion for use in the company's stock repurchase program.
IBM Corp. said Tuesday the money is in addition to the roughly $4.2 billion remaining from the board's earlier buyback authorization.
In addition, IBM says it plans to request more stock buyback authorizations in April at the next board meeting.
The company says it also declared a regular quarterly cash dividend of 55 cents. The dividend is payable Dec. 10 to shareholders on record as of Nov. 10.
Its shares are up $1.15 to $121.26 in morning trading.


Updated : 2021-07-28 19:28 GMT+08:00