[Techtaffy Newsdesk]
The IBM board of directors has declared a regular quarterly cash dividend of $0.85 per common share, payable June 9, 2012 to stockholders of record May 10, 2012. The dividend declaration represents an increase of 10 cents, 13 percent higher than the prior quarterly dividend of 75 cents per common share.
IBM’s board has also authorized $7 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 $5.7 billion remaining at the end of March from a prior authorization. With this new authorization, IBM will have approximately $12.7 billion for its stock repurchase program. IBM expects to request additional share repurchase authorization at the October 2012 board meeting. IBM has reduced its share count by a third since the beginning of 2000.
Fun Facts
- This is the 17th year in a row that IBM has increased its quarterly cash dividend
- This is the ninth 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 9th dividend, IBM will have paid consecutive quarterly dividends every year since 1916