NEW YORK (Reuters) - IBM (IBM.N) increased its stock buyback plan by $8 billion and raised its dividend by 15 percent.
International Business Machines Corp said on Tuesday it would pay a quarterly cash dividend of 75 cents a share, an increase of 10 cents a share and the sixteenth straight year it has boosted the shareholder payout.
IBM has paid a dividend every quarter since 1916.
The world’s largest technology services company also said the additional funds in its stock buyback program would increase the total to $12.7 billion. It said it plans to request additional share purchase authorization at its board meeting in October.
Shares of IBM were up 75 cents, or less than 1 percent, at $168.40.
Reporting by Paul Thomasch, editing by Gerald E. McCormick