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IBM's board approved $10 billion US in funds for stock repurchases, in addition to $2.3 billion left at the end of last month from a previous buyback plan.
International Business Machines Corp. (IBM-N) also said Tuesday that it would pay a quarterly cash dividend of 65 cents per share, unchanged from the previous quarter.
“IBM's higher value, higher margin business strategy has enabled the return of $91-billion since 2003 to our shareholders through share repurchases and dividends,” Samuel J. Palmisano, IBM chairman, president and CEO, said in a statement.