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IBM OKs $5 billion buyback

The computing giant authorized spending $5 bil to repurchase more shares in addition to $6.7 bil remaining as of Sept. 30 from a prior authorization, for a total of $11.7 bil. IBM (IBM) expects to request additional share repurchase authorization at its April '13 board meeting. The company also approved an 85-cent dividend per common share, payable Dec. 10.