IBM Approves Dividend and Authorizes $3 Billion For Stock Repurchase

IBM Approves Dividend and Authorizes $3 Billion For Stock Repurchase

The IBM board of directors today declared a regular quarterly cash dividend of $1.50 per common share, payable December 9 to stockholders of record November 10. With the payment of the December 9 dividend, IBM will have paid consecutive quarterly dividends every year since 1916.

The board 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 $1.5 billion remaining at the end of September from a prior authorization. With this new authorization, IBM will have approximately $4.5 billion for its stock repurchase program.

"Our strong free cash flow has enabled us to maintain R&D investments and to expand IBM's cloud and cognitive capabilities through capital investments, while returning capital to shareholders. We remain committed to both investing for the long term and returning capital," said Ginni Rometty, IBM chairman, president and CEO.