IBM Boosts Dividend 13%; Adds $7B To Buyback Program |
| Wall Street Journal - Apr 24, 2012 |
International Business Machines Corp.'s (IBM) board approved a 13% increase in the technology heavyweight's quarterly dividend and authorized an additional $7 billion to buy back shares as the company looks to return more of its rising cash levels to shareholders.
The dividend increase, to 85 cents a share from 75 cents, marks the 17th year in a row that IBM has increased its quarterly payout to shareholders. It will cost the company roughly $117.4 million more per quarter and gives IBM a dividend yield of 1.7%, based on current stock prices.
IBM's board also authorized the addition of $7 billion to its stock-repurchase program, bringing the total amount at its disposal to roughly $12.7 billion. The Armonk, N.Y., company said it expects to request an additional share-repurchase authorization at its October board meeting.
IBM has returned more than $137 billion to shareholders in the form of dividends and share repurchases since 2000, said Chief Executive Ginni Rometty.
"At the same time, we continue to invest in capital expenditures, acquisitions and research and development, to keep IBM at the forefront of innovation," she said.
Read Full Article from Wall Street Journal
- Posted: 2012-04-24 10:56:28
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