Board authorizes an additional $7 billion for stock repurchase.
The IBM Board of Directors has declared a regular quarterly cash dividend of $0.75 per common share, payable December 10, 2011 to stockholders of record November 10, 2011.
With the payment of the December 10 dividend, IBM will have paid consecutive quarterly dividends every year since 1916.
The Board also authorized $7 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 $5.2 billion remaining at the end of September 2011 from a prior authorization. With this new authorization, IBM will have approximately $12.2 billion for its stock repurchase program. IBM expects to request additional share repurchase authorization at the April 2012 Board meeting.
Samuel J. Palmisano, IBM chairman, president and chief executive officer said, "IBM’s higher value, higher margin business strategy has enabled the return of over $109 billion since 2003 to our shareholders through share repurchases and dividends. Shareholders can expect that as IBM enters its second century we will continue to invest in new products and services, while expanding IBM’s business into new, emerging markets."
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