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The 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 18th ^ year 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.”
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