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International Business Machines Corp Approves Quarterly Cash Dividend; Authorizes $15 Billion for Stock Repurchase


Tuesday, 29 Oct 2013 12:02pm EDT 

International Business Machines Corp announced that its Board of Directors declared a regular quarterly cash dividend of $0.95 per common share, payable December 10, 2013 to stockholders of record November 8, 2013. The Board also authorized $15 billion in additional funds for use in the Company’s stock repurchase program. IBM said it will repurchase shares on the open market or in private transactions from time to time, depending on market conditions. This amount is in addition to approximately $5.6 billion remaining at the end of September 2013 from a prior authorization. With this new authorization, IBM will have approximately $20.6 billion for its stock repurchase program. IBM expects to request additional share repurchase authorization at the October 2014 board meeting.