United States

IBM board authorizes $3 bln for stock repurchase

Tuesday, 31 Oct 2017 11:11am EDT 

Oct 31 (Reuters) - International Business Machines Corp ::IBM board approves quarterly cash dividend; authorizes $3 billion for stock repurchase.‍Board also authorized $3 billion in additional funds for use in company's stock repurchase program.With the new authorization, IBM will have approximately $4.5 billion for its stock repurchase program​.Board of directors today declared a regular quarterly cash dividend of $1.50 per common share​.The ‍authorized $3 billion amount is in addition to approximately $1.5 billion remaining at end of September 2017 from a prior authorization​.