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: Media reaping profits from Internet (Update)

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

Sony forecasts $2B loss as smartphones lag (Update)

8 hours ago

Sony expects its annual loss to swell to $2 billion and has canceled dividends for the first time in more than half a century after writing down the value of its troubled smartphone business.

Alibaba post-IPO structure gives insiders control

9 hours ago

Control over Alibaba Group will stay in the hands of founder Jack Ma and other company veterans after the Chinese e-commerce giant goes public on the New York Stock Exchange in a record busting share sale.

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.