IBM Board Approves Additional $3 Billion Stock Buyback

IBM said Tuesday its board has approved a $3 billion share buyback program. The program is in addition to the roughly $3 billion remaining at the end of September from a prior authorization, the company said. IBM also said it will pay a quarterly $1.40 cash dividend on Dec. 10 to shareholders of record as of Nov. 10, unchanged from the previous quarter. Shares were slightly lower in midday trade, but have gained 9% in the year so far, while the Dow Jones Industrial Average has gained 4.4%.