IBM board OK repurchase of another $15B of stock

October 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: IBM lifts dividend 15 pct, sets $8B stock buyback

Related Stories

Qualcomm ups dividend, approves up to $4B buyback

March 6, 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

Mapping coal's decline and the renewables' rise

June 23, 2016

Even as coal-fired power plants across the U.S. are shutting down in response to new environmental regulations and policy mandates, defenders of the emissions-heavy fuel still have cost on their side. Coal, after all, is ...

Ultra-thin solar cells can bend around a pencil

June 20, 2016

Scientists in South Korea have made ultra-thin photovoltaics flexible enough to wrap around the average pencil. The bendy solar cells could power wearable electronics like fitness trackers and smart glasses. The researchers ...

Electric racing car breaks world record

June 23, 2016

The Formula Student team at the Academic Motorsports Club Zurich (AMZ) accomplished its mission today: the grimsel electric racing car accelerated from 0 to 100 km/h in just 1.513 seconds and set a new world record. It reached ...

2 comments

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.

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.