IBM (IBM) Declares $1.40 Quarterly Dividend; $3B Stock Buyback

October 25, 2016 11:41 AM EDT

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IBM (NYSE: IBM) declared a quarterly dividend of $1.40 per share, or $5.6 annualized. The dividend will be payable on December 10, 2016, to stockholders of record on November 10, 2016, with an ex-dividend date of November 8, 2016. The annual yield on the dividend is 3.7 percent.

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 $3 billion remaining at the end of September 2016 from a prior authorization. With this new authorization, IBM will have approximately $6 billion for its stock repurchase program.

Ginni Rometty, IBM chairman, president and chief executive officer said, "IBM continues to invest in our business for long-term growth, and the company has already invested more than $12 billion in the first three quarters of 2016 to build higher-value offerings. At the same time we remain committed to returning capital to shareholders through both dividends and share repurchase."

For a dividend history and other dividend-related data on IBM (IBM) click here.

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