LONDON (Bloomberg) – Dell Inc., the second-largest maker of personal computers, will resume its stock-buyback program this week with a $10 billion repurchase, the first since it restated four years of earnings. The shares rose in early trading.

The announcement came before Round Rock, Texas-based Dell’s annual meeting today, where Chief Executive Officer Michael Dell will face shareholders for the first time since retaking the top job in January.
Dell, 42, looked to retail sales to regain the market lead lost to Hewlett-Packard Co. last year. By October, the company’s shares had climbed 22 percent on the Nasdaq Stock Market since the start of the year, only to suffer their worst decline since 2000 last week after third-quarter profit fell short of analysts’ estimates.
“This is a significant event, especially for a company that’s lost about 25 percent of its market value since October,” said David Garrity, director of research at Dinosaur Securities Inc. in New York.
Dell promised to resume the program when it completed an internal accounting probe and restated four years of results. The company had suspended buybacks, which can boost the value of remaining shares, during the investigation. As of yesterday’s close, Dell had a market capitalization of $53.5 billion.
Dell climbed 32 cents, or 1.3 percent, to $24.26 at 9:41 a.m. New York time in Nasdaq trading. The shares had fallen 4.6 percent this year before yesterday.