IBM Authorizes $4 Billion Share Buyback
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International Business Machines Corp.’s board declared a regular quarterly cash dividend of 30 cents and authorized the repurchase of about $4 billion more of the company’s shares.
The Armonk, N.Y., company said Tuesday it will pay its next dividend on December 9, to shareholders of record November 10.
The Dow component plans to add its latest repurchase authorization to the estimated $2.4 billion remaining under a prior program.
IBM had about 1.53 billion shares outstanding at the end of September.
New York Stock Exchange-listed shares of IBM recently changed hands at $92.32, up 82 cents, or 1%.