Tags: ibm | dividend | repurchases | shares

IBM Approves $5 Billion for Repurchases, Raises Dividend 12%

Tuesday, 30 Apr 2013 11:18 AM

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.

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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...
ibm,dividend,repurchases,shares
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2013-18-30
Tuesday, 30 Apr 2013 11:18 AM
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