IBM Board Approves Quarterly Cash Dividend; Authorizes $5 Billion for Stock Repurchase
29 October 2014 - 3:25AM
Business Wire
The IBM (NYSE:IBM) board of directors today declared a regular
quarterly cash dividend of $1.10 per common share, payable December
10, 2014 to stockholders of record November 10, 2014.
With the payment of the December 10 dividend, IBM will have paid
consecutive quarterly dividends every year since 1916.
The board today also authorized $5 billion in additional funds
for use in the company’s 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.
This amount is in addition to approximately $1.4 billion
remaining at the end of September 2014 from a prior authorization.
With this new authorization, IBM will have approximately $6.4
billion for its stock repurchase program. IBM expects to request
additional share repurchase authorization at the April 2015 board
meeting.
Ginni Rometty, IBM chairman, president and chief executive
officer said, "We will continue to make the investments and changes
necessary to manage our business for the long term and to shift to
higher-value offerings. At the same time we remain fully committed
to returning significant value to shareholders."
IBMDoug Shelton, 914-499-6533doshelton@us.ibm.com
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