IBM Board Approves Quarterly Cash Dividend; Authorizes $5 Billion for Stock Repurchase

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, [e-mail]