Armonk, New York, United States
The IBM (NYSE:IBM) board of directors has declared a regular quarterly cash dividend of $.30 per common share, payable December 9, 2006 to stockholders of record November 10, 2006.
With the payment of the December 9 dividend, IBM will have paid 364 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 $2.4 billion for stock repurchase remaining from a prior authorization. With this new approval, IBM now has approximately $6.4 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.
CONTACT: IBM Edward Barbini 914-499-6565 barbini@us.ibm.com
Source: Business Wire (Business Wire India)