IBM Board Approves 12% Rise in Quarterly Cash Dividend, Authorizes $5B for Stock Buyback

The IBM (NYSE: IBM) board of directors today declared a regular quarterly cashdividend of $0.95 per common share, payable June 10, 2013 to stockholders ofrecord May 10, 2013.Today's dividend declaration represents an increase of $0.10, or 12 percenthigher 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 cashdividend, and the tenth year in a row of double-digit percent increases. IBMhas increased its dividend by over 600 percent since the beginning of 2000.With the payment of the June 10 dividend, IBM will have paid consecutivequarterly dividends every year since 1916.The board today also authorized $5 billion in additional funds for use in thecompany's stock repurchase program. IBM will repurchase shares on the openmarket or in private transactions from time to time, depending on marketconditions. This amount is in addition to approximately $6.2 billion remainingat 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 theOctober 2013 board meeting. IBM has reduced its share count by a third sincethe beginning of 2000.Ginni Rometty, IBM chairman, president and chief executive officer said,“IBM's business model focused on higher value and continuous transformationcontinues to generate strong profit and cash flow. This enables the company todeliver value to our shareholders. Since 2000, we have returned over $150billion to shareholders in the form of dividends and share repurchases.”