IBM Boosts Dividend

SAN FRANCISCO - IBM(IBM Quote) raised its quarterly dividend Tuesday.

Big Blue said it boosted the dividend by 10 cents, or 25%, over the previous quarter; it will pay out 50 cents on June 10 to the shareholders of record as of May 9.

The dividend has increased 150% since 2006, when the company paid out 20 cents quarterly, IBM said. The Armonk, N.Y., company has been paying dividends consecutively since 1916.

Shares were up $1.01, or 0.8%, to $122.70 in recent trading.

At the company's earnings report April 17, EPS jumped 36% year over year to $1.65. IBM also raised full-year EPS guidance by 25 cents, to $8.50.

In addition to showing solid top-line growth, the company has reduced its share count 8% year over year.

Recent dividend increases have been declared by Arch Coal(ACI Quote) and Carpenter Technology(CRS Quote).

IBM competitor Hewlett-Packard(HPQ Quote) declares a regular quarterly dividend of 8 cents a share.