IBM Rewards Shareholders

IBM Corp (NYSE:IBM) boosted its buyback war chest with another $7 billion authorized by its Board. Together with the balance still available from September 2011 of approximately $5.2 billion, the company may now spend up to $12.2 billion on stock buybacks. This amount will likely get further boosted in April 2012 when the company requests additional buyback authorization. The company also declared its $0.75 quarterly dividend.