IBM Board Approves Quarterly Cash Dividend; Authorizes $3 Billion for Stock Repurchase
26 October 2016 - 2:39AM
Business Wire
The IBM (NYSE:IBM) board of directors today declared a regular
quarterly cash dividend of $1.40 per common share, payable December
10, 2016 to stockholders of record November 10, 2016.
With the payment of the December 10 dividend, IBM will have paid
consecutive quarterly dividends every year since 1916.
The board today also authorized $3 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 $3 billion remaining
at the end of September 2016 from a prior authorization. With this
new authorization, IBM will have approximately $6 billion for its
stock repurchase program.
Ginni Rometty, IBM chairman, president and chief executive
officer said, "IBM continues to invest in our business for
long-term growth, and the company has already invested more than
$12 billion in the first three quarters of 2016 to build
higher-value offerings. At the same time we remain committed to
returning capital to shareholders through both dividends and share
repurchase."
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version on businesswire.com: http://www.businesswire.com/news/home/20161025006267/en/
IBMEdward Barbini, 914-499-6565barbini@us.ibm.com
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