Along with declaring its regular dividend, IBM (IBM +0.2%) has announced it's adding $5B to its buyback plan, raising its total authorization to $6.4B. The company expects to request a new authorization at its April 2015 board meeting.
With free cash flow declining - it's down 13% Y/Y over the first 9 months of 2014 - IBM has slowed its buyback pace in recent quarters. Big Blue spent $1.7B on buybacks in Q3, down from $3.7B in Q2, and stated earlier this year it would spend less on buybacks in 2014 than the $13.9B spent in 2013.
