IBM International Business Machines Corp

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 10:35 ET (14:35 GMT)

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