Tulsa, Oklahoma, United States
The IBM board of directors have declared a regular quarterly cash dividend of $.30 per common share, payable June 10, 2006 to stockholders of record May 10, 2006.
Today's dividend declaration represents an increase of $.10, or 50 percent more than the prior quarterly dividend of $.20 per common share. The percentage increase is the largest in the history of IBM.
This is the eleventh year in a row that IBM has increased its quarterly cash dividend, representing a total increase of 380 percent since 1996.
With the payment of the May 10 dividend, IBM will have paid 362 consecutive quarterly dividends, starting in 1916.
The board also authorized $4 billion in additional funds for use in its stock repurchase program. This amount is in addition to approximately $2.5 billion for stock repurchase remaining from a prior authorization. With this new approval, IBM now has approximately $6.5 billion for its stock repurchase program. IBM said it will repurchase shares on the open market or in private transactions from time to time, depending on market conditions.
Additional information, including a Q&A with IBM Treasurer Jesse Greene on IBM's dividend and buyback strategy, is available on IBM's investor Web site at http://www.ibm.com/investor/viewpoint/ircorner/2006/06-04-25-1.phtml.
CONTACT: IBM Edward Barbini 914-499-6565 barbini@us.ibm.com
CONTACT: IBM Edward Barbini 914-499-6565 barbini@us.ibm.com , ,
Source: Business Wire (Business Wire India)