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HindustanTimes Wed,30 Jul 2014

IBM may buy back additional $5B in stock

AP   October 31, 2012
First Published: 13:03 IST(31/10/2012) | Last Updated: 13:05 IST(31/10/2012)

IBM says its board had added $5 billion to its stock buyback program, bringing the total buyback authorization to $11.7 billion.



The computer and consulting company last added to it buyback program in April, in the amount of $7 billion. IBM Corp. said Tuesday that it expects to add more funding to the buyback program next April.

The total buyback authorization is equivalent to 5 percent of the Armonk, N.Y., company's outstanding shares.

Buying back shares increases the value of shareholders' existing stakes and can help support a company's per-share earnings


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