logo
Plus   Neg
Share
Email

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.

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Swiss engineering major ABB Ltd. teamed with Italian utility Evolvere to launch a blockchain pilot project to explore transparent, secure peer-to-peer solar energy transactions, media outlet PV Tech reported. The companies will test the potential of blockchain technology in solar systems. The blockchain technology was developed in partnership with Prosume. Shares of Tesla Inc. are losing more than 5 percent in Monday's trading after Wedbush Securities analyst Daniel Ives slashed his price target on the luxury electric car maker's stock, citing "major concerns" around the trajectory of Tesla's growth prospects. In a note to investors, Ives also said he has concerns over underlying demand for Model 3 cars in the U.S. over the coming quarters. Amazon Inc. is leading a new $575 million investment in British food delivery company Deliveroo, intensifying the e-commerce giant's competition with rival Uber and its Uber Eats service. Deliveroo noted that Amazon is set to be the largest investor in the Series G preferred shared funding round. With the latest funding round, Deliveroo has raised $1.53 billion.
Follow RTT