IBM Board Approves Quarterly Cash Dividend; Authorizes $3 Billion for Stock Repurchase
October 31 2017 - 11:11AM
Business Wire
The IBM (NYSE:IBM) board of directors today declared a regular
quarterly cash dividend of $1.50 per common share, payable December
9, 2017 to stockholders of record November 10, 2017.
With the payment of the December 9 dividend, IBM will have paid
consecutive quarterly dividends every year since 1916.
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 $1.5 billion
remaining at the end of September 2017 from a prior authorization.
With this new authorization, IBM will have approximately $4.5
billion for its stock repurchase program.
Ginni Rometty, IBM chairman, president and chief executive
officer, said: "Our strong free cash flow has enabled us to
maintain R&D investments and to expand IBM's cloud and
cognitive capabilities through capital investments, while returning
capital to shareholders. We remain committed to both investing for
the long term and returning capital."
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IBMDoug Shelton, 914-255-8115doshelton@us.ibm.com
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