Dell is reviving plans to buy back shares in the company and will begin to repurchase US$10 billion in common stock this week. Dell had suspended its buyback program in August 2006 until it could file a backlog of earnings reports with the U.S. Securities and Exchange Commission.
Chief Financial Officer Don Carty said there was no time frame for the repurchase plan. He said the company has $15 billion in cash and is generating another $1 billion per quarter that could be put toward the repurchase. As of Oct. 19, Dell had about 2.24 billion shares outstanding. (AP)
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