The sign at the IBM facility near Boulder, Colorado is seen with the Boulder Flatiron mountains in the background. Credit: Reuters/Rick WilkinG
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