IBM Board Approves 12 Percent Increase in Quarterly Cash Dividend; Authorizes $5.0 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 June 10, 2013
to stockholders of record May 10, 2013.
Today’s dividend declaration represents an increase of $0.10, or 12
percent higher than the prior quarterly dividend of $0.85 per common
share.
This is the 18thyear in a row that IBM has increased its
quarterly cash dividend, and the tenth year in a row of double-digit
percent increases. IBM has increased its dividend by over 600 percent
since the beginning of 2000.
With the payment of the June 10 dividend, IBM will have paid consecutive
quarterly dividends every year since 1916.
The board today 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.
Ginni Rometty, IBM chairman, president and chief executive officer said,
“IBM’s business model focused on higher value and continuous
transformation continues to generate strong profit and cash flow. This
enables the company to deliver value to our shareholders. Since 2000, we
have returned over $150 billion to shareholders in the form of dividends
and share repurchases.”
![](http://cts.businesswire.com/ct/CT?id=bwnews&sty=20130430006208r1&sid=ntxv4&distro=nx)