International Business Machines Corp.'s IBM +0.05% board authorized an additional $15 billion in share repurchases, a move to generate stronger shareholder returns.
The latest authorization is in addition to about $5.6 billion remaining at the end of September from a prior authorization. IBM, which had a market capitalization of $194.27 billion as of Monday's close, expects to request additional buyback authorization at its October 2014 board meeting.
The company said it has returned more than $159 billion in dividends and share repurchases to shareholders since 2000.
IBM two weeks ago posted a sixth straight quarterly decline in revenue, with disappointing results in several areas, including international business, technology services and hardware. IBM.
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