Intnl Bus. Mach IBM Board Approves Quarterly Cash Dividend; Authorizes $3 Billion for Stock Repurchase

 
TIDMIBM 
 
 

The IBM (NYSE:IBM) board of directors today declared a regular quarterly cash dividend of $1.50 per common share, payable December 9, 2017 to stockholders of record November 10, 2017.

With the payment of the December 9 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 $1.5 billion remaining at the end of September 2017 from a prior authorization. With this new authorization, IBM will have approximately $4.5 billion for its stock repurchase program.

Ginni Rometty, IBM chairman, president and chief executive officer, said: "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."

IBMDoug Shelton, [e-mail]

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(END) Dow Jones Newswires

October 31, 2017 11:12 ET (15:12 GMT)