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IBM Boosts Stock Buyback Program to $9.2 Billion
Published:
Tuesday, 27 Oct 2009 | 11:36 AM ET
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By: Reuters
IBM said its board approved an additional $5 billion in share repurchases, bringing the company's total stock buyback program to $9.2 billion in a reflection of the company's strong cash flow.
International Business Machines [IBM
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] said it plans to occasionally repurchase shares on the open market or in private transactions. The buyback would add to around $4.2 billion remaining at the end of September from a previously approved plan.
IBM shares rose $1.63, or 1.4 percent, to $121.74.
Copyright 2009 Reuters. Click for restrictions.
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