IBM Adds $15 Billion Buyback After Six-Quarter Sales Slump
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International Business Machines Corp. added $15 billion to its buyback plan as it reduces stock in circulation to increase earnings per share with sales continuing to decline.
The board authorized the funding today along with its quarterly dividend, according to a statement from the world’s largest computer-services provider. With the addition, the company now has $20.6 billion in its repurchase program, and it will request more next October, it said. IBM’s market value is about $199 billion.