Dell to buy back $10B in common stock
U.S. technology company Dell Inc. said it would buy back $10 billion in common stock ahead of its annual stockholders meeting Tuesday.
"Dell is committed to a long-term share-repurchase program as part of an overall capital allocation plan that supports growth and also returns value to shareholders," Chairman and Chief Executive Officer Michael Dell said in a statement.
He said the buybacks would start this week.
The Round Rock, Texas, company said in October after it filed past-due reports with the U.S. Securities and Exchange Commission it would resume stock repurchases soon.
The company has some $13 billion of cash on hand, The Wall Street Journal reported.
Dell also said the company intended to simplify information technology "by establishing clear priorities for growth in consumer, emerging countries, notebooks, small and medium business and the enterprise." // Copyright 2007 by United Press International
- U.S. company to purchase equipment and services for MCC Moldova foundation
- Pecial commission to consider economic, financial situation of Moldovagaz stock company
- Orange Moldova earned a net profit of over 1 bn lei in 2008
- Moldovan company will open grocery chain in Saint Petersburg
- Lion-Gri wins golden medal at les Vinalies Internationales
- Wine city to conduct third tender on selling land plots
- Dell to buy back $10B in common stock
- Vivendi will acquire Activision
- Employee sought in $7 million heist
- Tall-ship cruise company buffeted
- Asia, US helps Mercedes Benz sales hit record high in 2006
- Cricova: The Largest Underground Wine Cellar in the World
- What does Remortgage mean?
- Dutch bear profit rises 26 percent
- Foreign direct investment in India doubles during 2006
- Greece: Socialist government's budget deficit of 12.5% caused debt crisis
- Toyota in talks to build new China plant
- Walt Disney profit up 39 percent
- DaimlerChrysler is not planning to manufacture trucks in India