Tags: IBM | Raises | Dividend | Stock | Buyback

IBM Raises Dividend 15%, Stock Buyback by $8 Billion

Tuesday, 26 Apr 2011 10:54 AM

 

International Business Machines Corp. (IBM), the world’s biggest computer-services provider, increased its quarterly dividend 10 cents for the second straight year and boosted its buyback plan, sending the stock to a record.

The quarterly payout will rise 15 percent to 75 cents a share, IBM said today in a statement. IBM added $8 billion to its stock-repurchase plan, bringing the total authorized by the board to $12.7 billion.

IBM last week said full-year earnings will be at least $13.15 a share, topping estimates, as it works toward a goal of at least $20 a share in operating earnings by 2015. The company plans to spend about $20 billion on dividends and $50 billion on buybacks through 2015, it said at an investor meeting last month.

IBM, based in Armonk, New York, rose 52 cents to $168.19 at 10:37 a.m. in New York Stock Exchange composite trading. Earlier it rose to $169.20, the highest intraday price in the 100-year-old company’s history. The shares had climbed 14 percent this year before today.

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