IBM Raises Quarterly Dividend
April 26 2016 - 10:28AM
Dow Jones News
By Austen Hufford
International Business Machines Corp. raised its quarterly
dividend to $1.40 a share, up from $1.30 a share previously.
Last week the Armonk, N.Y., company Monday reported
first-quarter declines in revenue and profit as its products have
become increasingly threatened by an industry move to computing
services delivered over the Internet. IBM has posted revenue
declines for four straight years.
IBM has focused on higher growth businesses such as cloud
computing and data analytics intended to extract useful insights
from mountains of data. The company calls these analytics,
transaction processing and artificial intelligence products
cognitive solutions.
"IBM is transforming its business into a cognitive solutions and
cloud platform company," Chief Executive Virginia Rometty said
Tuesday.
The last dividend boost from IBM came early last year, when it
raised the dividend to $1.30 from $1.10.
Write to Austen Hufford at austen.hufford@wsj.com
(END) Dow Jones Newswires
April 26, 2016 10:13 ET (14:13 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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