Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Wednesday, February 27, 2008

IBM Announces $15 Billion Stock Buyback Plan

IBM authorized a $15 billion stock repurchase plan, its second in less than a year.  IBM said the funds will come from operations.  It could increase IBM's earnings by as much as 5 cents.  In the past 5 years IBM has spent $46.2 billion on repurchasing its shares, equal to about 30% of its current market capitalization.  S&P said that 423 companies in the S&P 500 made share buybacks in the 18 month period ended June 30, 2007, but only one-fourth of them outperformed the S&P 500 through Sept. 30.  WSJ, IBM Plots Another Share Buyback; NYTimes, I.B.M. Plans $15 Billion Share Buyback.

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