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IBM OKs $4 Billion for Buybacks

It boosts its funds available to $6.4 billion.


(IBM) - Get International Business Machines Corporation Report

board of directors approved another $4 billion for stock repurchases, the company announced Tuesday.

The figure is in addition to the $2.4 billion remaining from a prior authorization.

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At the same time, Big Blue declared a quarterly dividend of 30 cents a share, payable Dec. 9 to stockholders of record Nov. 10.

IBM shares recently added 35 cents to $91.85.