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IBM Board Approves Quarterly Cash Dividend; Authorizes $4 Billion for Stock Repurchase

Released 15:26 30-Oct-2018

IBM Board Approves Quarterly Cash Dividend; Authorizes $4 Billion for Stock Repurchase

ARMONK, N.Y.--(BUSINESS WIRE)--

The IBM (NYSE:IBM) board of directors today declared a regular quarterly cash dividend of $1.57 per common share, payable December 10, 2018 to stockholders of record November 9, 2018.

With the payment of the December 10 dividend, IBM will have paid consecutive quarterly dividends every year since 1916.

The board today also authorized $4 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 $1.4 billion remaining at the end of September 2018 from a prior authorization. With this new authorization, IBM will have approximately $5.4 billion for its stock repurchase program.

Ginni Rometty, IBM chairman, president and chief executive officer, said: "Our strong cash generation allows IBM to both invest in world-class innovations and to return money to shareholders."

IBM
Edward Barbini, 914-499-6565
barbini@us.ibm.com

IBM

Source: Intnl Bus. Mach


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IBM Board Approves Quarterly Cash Dividend; Authorizes $4 Billion for Stock Repurchase - RNS