IBM (IBM) Adds $5B to Buyback Authorization
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IBM's (NYSE: IBM) board of directors today authorized $5 billion in additional funds for use in the company’s stock repurchase program.
IBM will repurchase shares on the open market or in private transactions from time to time, depending on market conditions. This amount is in addition to approximately $6.2 billion remaining at the end of March from a prior authorization.
With this new authorization, IBM will have approximately $11.2 billion for its stock repurchase program. IBM expects to request additional share repurchase authorization at the October 2013 board meeting. IBM has reduced its share count by a third since the beginning of 2000.
IBM will repurchase shares on the open market or in private transactions from time to time, depending on market conditions. This amount is in addition to approximately $6.2 billion remaining at the end of March from a prior authorization.
With this new authorization, IBM will have approximately $11.2 billion for its stock repurchase program. IBM expects to request additional share repurchase authorization at the October 2013 board meeting. IBM has reduced its share count by a third since the beginning of 2000.
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