IBM Board Approves Quarterly Cash Dividend
Authorizes $10.0 Billion for Stock Repurchase
ARMONK, N.Y. (October 26, 2010) – The IBM (NYSE: IBM) board of directors today declared a regular quarterly cash dividend of $0.65 per common share, payable December 10, 2010 to stockholders of record November 10, 2010.
With the payment of the December 10 dividend, IBM will have paid consecutive quarterly dividends every year since 1916.
The board today also authorized $10 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 $2.3 billion remaining at the end of September 2010 from a prior authorization. With this new authorization, IBM will have approximately $12.3 billion for its stock repurchase program. IBM expects to request additional share repurchase authorization at the April 2011 board meeting.
Samuel J. Palmisano, IBM chairman, president and chief executive officer said “IBM’s higher value, higher margin business strategy has enabled the return of $91 billion since 2003 to our shareholders through share repurchases and dividends. We’ve done this while investing to bring new products and services to market, and expanding IBM’s business into new, emerging markets.”
Contact
IBM
Mike Fay, 914/499-6107
mikefay@us.ibm.com
Source: IBM