IBM Says Board Increased Dividend
Associated Press
IBM Corp. said its board raised the quarterly dividend 7%, or 1 cent, to 15 cents a share and authorized the repurchase of as much as $3.5 billion in stock.
The Armonk, N.Y.-based computer maker has increased its quarterly dividend seven times since 1996, for a total increase of 140%. The dividend is payable June 10 to stockholders of record May 10.
IBM shares fell 13 cents to $83.76 on the New York Stock Exchange.
The share buyback was the same size as the usual biannual share buyback approval IBM’s board announces in the spring and fall of each year, an IBM spokeswoman said.
