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posted: 10/30/2012 1:57 PM

IBM may buy back additional $5 billion in stock

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  • IBM most recently added to its buyback program in April in the amount of $7 billion.

      IBM most recently added to its buyback program in April in the amount of $7 billion.
    ASSOCIATED PRESS

 
Associated Press

ARMONK, N.Y. -- 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.

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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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