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International Business Machines Corp Approves 12% Increase In Quarterly Cash Dividend; Authorizes $5.0 Billion For Stock Repurchase


Tuesday, 30 Apr 2013 10:32am EDT 

International Business Machines Corp (IBM) announced that regular quarterly cash dividend of $0.95 per common share, payable June 10, 2013 to stockholders of record May 10, 2013. This dividend declaration represents an increase of $0.10, or 12% higher than the prior quarterly dividend of $0.85 per common share. The board also authorized $5 billion in additional funds for use in the Company`s stock repurchase program. IBM 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 $6.2 billion remaining at the end of March from a prior authorization. With this new authorization, IBM will have approximately $11.2 billion for its stock repurchase program. IBM expects to request additional share repurchase authorization at the October 2013 board meeting. IBM has reduced its share count by a third since the beginning of 2000.