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IBM Board Authorizes $4 Bln For Stock Repurchase

IBM (IBM) said that its board declared a regular quarterly cash dividend of $1.57 per common share, payable December 10, 2018 to stockholders of record November 9, 2018.

The board also authorized $4 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.

The amount is in addition to approximately $1.4 billion remaining at the end of September 2018 from a prior authorization. With this new authorization, IBM will have approximately $5.4 billion for its stock repurchase program.

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