REG-Intnl Bus. Mach IBM Board Approves Quarterly Cash Dividend; Authorizes $15 Billion for Stock Repurchase
IBM Board Approves Quarterly Cash Dividend; Authorizes $15 Billion for Stock Repurchase
The IBM (NYSE: IBM) board of directors today declared a regular quarterly cash dividend of $0.95 per common share, payable December 10, 2013 to stockholders of record November 8, 2013.
With the payment of the December 10 dividend, IBM will have paid consecutive quarterly dividends every year since 1916.
The board today also authorized $15 billion in additional funds for use in the company’s stock repurchase program. IBM said it will repurchase shares on the open market or in private transactions from time to time, depending on market conditions.
This amount is in addition to approximately $5.6 billion remaining at the end of September 2013 from a prior authorization. With this new authorization, IBM will have approximately $20.6 billion for its stock repurchase program. IBM expects to request additional share repurchase authorization at the October 2014 board meeting.
Ginni Rometty, IBM chairman, president and chief executive officer said, "We are committed to a higher value strategy fueled by innovation and shifting to new growth opportunities. As a result we consistently deliver value to our shareholders through dividends and share repurchases, totaling more than $159 billion since 2000."
Doug Shelton, 914-499-6533
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