Web Sify
Follow us on
Mail
Print

IBM may buy back additional $5B in stock

Source : AP
Last Updated: Wed, Oct 31, 2012 07:30 hrs

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.




More from Sify:
blog comments powered by Disqus
most popular on facebook
talking point on sify finance