Armonk-based IBM boosts dividend, share-buybacks
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- April
- 24
IBM Corp. has boosted its quarterly dividend 33 percent to 40 cents and expanded its share-buyback program by $15 billion.
Both actions, announced this morning from Knoxville, Tenn., where IBM’s holdings its annual shareholders’ meeting, will increase the company’s earnings per share by 12 percent to 14 percent, the company estimated. The predicted gains exclude one-time gains from the sale of IBM’s printer business.
The new dividend will be paid June 9 to shareholders of record as of May 10.
Armonk-based IBM also reported that it still has $1.4 billion previously authorized by its board under an earlier share-buyback program bringing the total authorized for buybacks to $16.4 billion.
IBM shares closed yesterday at $95.21, up 63 cents, or 0.7 percent in trading on the New York Stock Exchange.
This entry was posted
on Tuesday, April 24th, 2007 at 9:51 am by Frank Brill.
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