IBM (IBM) Raises Share Buyback Plan By $5 Billion, Declares Dividend
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IBM (NYSE: IBM) authorized $5 billion in additional funds for use in the company's stock repurchase program. This amount is in addition to approximately $4.2 billion remaining at the end of September 2009 from a prior authorization. With this new authorization, IBM will have approximately $9.2 billion for its stock repurchase program.
IBM expects to request additional share repurchase authorization at the April 2010 board meeting.
The IBM (NYSE: IBM) board of directors today declared a regular quarterly cash dividend of $0.55 per common share, payable December 10, 2009 to stockholders of record November 10, 2009. The ex-dividend date is November 6. The dividend yield is 1.8%.
Samuel J. Palmisano, IBM chairman, president and chief executive officer said "IBM's strategic transformation to higher value businesses continues to drive profitable growth, and our strong cash flow performance has enabled IBM to return $73 billion since 2003 to our shareholders."
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