NEW YORK (Reuters) - Hewlett-Packard Co's
said Monday its board approved to buy back an additional $10
billion in shares to manage dilution created by shares issued
under other plans.
HP interim CEO Cathie Lesjak said in a statement HP plans
to repurchase at least $3 billion worth of shares in the fiscal
As of the end of July, HP had repurchased about $2.6
billion of its shares in its fiscal third quarter as part of an
$8 billion repurchase plan approved in November 2009. Under
that authorization, HP has approximately $4.9 billion remaining
to buy back its stock.
Shares of HP rose 2.7 percent to $39.01 in premarket trade
after the announcement.
(Reporting by Jennifer Saba, editing by Gerald E. McCormick)