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IBM raises dividend, approves stock buybackIBM raises quarterly dividend 13 percent, increases stock buyback program
IBM says it is raising its quarterly dividend and repurchasing $7 billion more of its stock under a new buyback program.
IBM Corp. said Tuesday that it is raising its quarterly dividend by 10 cents, or 13 percent, to 85 cents. The technology products and services company says this is the 17th year in a row it has increased its dividend.
The additional funds for IBM's stock buybacks are in addition to $5.7 billion that was left from an earlier program. Buying back shares can make an existing stockholder's stake more valuable.
The new dividend is payable on June 9 to shareholders of record as of May 10.
The Armonk, N.Y., company has about 1.16 billion shares outstanding.
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