International Business Machines Corp., the biggest computer-services company, said its board authorized an additional $5 billion for its share repurchase fund and increased its quarterly payout by 12 percent.

The dividend of 95 cents a share will be payable on June 10 to shareholders of record on May 10, Armonk, New York-based IBM said in a statement. With the additional buyback funds, IBM has $11.2 billion in its repurchase program, it said.

Chief Executive Officer Ginni Rometty, who is presiding over IBM’s annual meeting in Huntsville, Alabama, is boosting cash returns to investors after a rare earnings disappointment.

The company’s first-quarter results this month missed analysts’ estimates for the first time since 2005, according to data compiled by Bloomberg.

IBM rose less than 1 percent to $199.76 at 10:45 a.m. in New York. The shares had climbed 4 percent this year through Monday, compared with a 12 percent gain for the Standard & Poor’s 500 Index.