Article posted: 10/30/2012 1:57 PM
IBM may buy back additional $5 billion in stock
- Article
- Comments
- Photos (1)
|
|
IBM most recently added to its buyback program in April in the amount of $7 billion. ASSOCIATED PRESS |
By 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.
Advertisement
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.
Comments (
We are now using Facebook comments to offer a more inclusive, social and constructive discussion.
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked.
If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
