IBM board OK repurchase of another $15B of stock

Oct 29, 2013

IBM's board has approved the repurchase of $15 billion of its common stock.

The company still had about $5.6 billion remaining under a previous authorization as of September's end.

This means IBM can now buy back up to approximately $20.6 billion of its shares in total.

IBM said Tuesday that it expects to request approval for more stock buybacks at its October 2014 board meeting.

The company's board also declared a regular quarterly dividend of 95 cents. The dividend will be paid on Dec. 10 to shareholders of record on Nov. 8.

Shares of International Business Machines Corp. added. $3.95, or 2.2 percent, to $181.30 in afternoon trading.

Explore further: Amazon, Simon & Schuster sign book retail deal

5 /5 (2 votes)
add to favorites email to friend print save as pdf

Related Stories

Qualcomm ups dividend, approves up to $4B buyback

Mar 06, 2012

(AP) -- Mobile phone chip-maker Qualcomm Inc. said Tuesday that its board approved the increase of its quarterly dividend by 16 percent to 25 cents and up to $4 billion in stock buybacks.

Recommended for you

Amazon, Simon & Schuster sign book retail deal

7 hours ago

Amazon has reached a deal with American book publisher Simon & Schuster, the companies said, though the e-commerce giant remains at loggerheads with France's Hachette over e-book pricing.

Facebook sues law firms, claims fraud

18 hours ago

Facebook is suing several law firms that represented a man who claimed he owned half of the social network and was entitled to billions of dollars from the company and its CEO Mark Zuckerberg.

IBM 3Q disappoints as it sheds 'empty calories'

18 hours ago

IBM disappointed investors Monday, reporting weak revenue growth again and a big charge to shed its costly chipmaking division as the tech giant tries to steer its business toward cloud computing and social-mobile ...

User comments : 2

Adjust slider to filter visible comments by rank

Display comments: newest first

gopher65
not rated yet Oct 29, 2013
So what happens in 20 years when they've repurchased all of their outstanding shares? Who would own the company then?
cantdrive85
1 / 5 (5) Oct 29, 2013
So what happens in 20 years when they've repurchased all of their outstanding shares? Who would own the company then?

At some point there would be no sellers due to the value of the shares, IBM can't force you to sell. BTW, this is one "World Dominator" you want in your portfolio, these buybacks are gravy on top of the dividends.