This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

IBM Boosts Dividend, Adds $5B Buyback

NEW YORK ( TheStreet) -- IBM (IBM - Get Report) just announced a huge cash return to shareholders, increasing its quarterly dividend by 12% and authorizing an additional $5 billion in share buybacks.

The tech giant announced the news at its annual stockholders meeting in Huntsville, Ala.

IBM, which recently missed earnings expectations for the first time in a while, announced it will raise its quarterly dividend by 10 cents to 95 cents per share. This is the 18th year in a row the Armonk, N.Y.-based firm has raised its quarterly dividend. The tech giant has now hiked its dividend by 600% since 2000. The dividend yield would be 1.9%, comfortably above the yield on a 10-year U.S. Treasury.

In addition to the increased dividend, IBM also announced it will add $5 billion to its buyback program. The hardware and software heavyweight currently has $6.2 billion left on an existing program, thus leaving it with $11.2 billion on its repurchase program. The company noted it expects to ask for more funds at its October 2013 board meeting.

Shares of IBM were slightly lower following the announcement, off 0.15% to $198.85.

-- Written by Chris Ciaccia in New York

>Contact by Email.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
IBM $144.13 0.00%
AAPL $95.18 0.00%
FB $117.43 0.00%
GOOG $692.36 0.00%
TSLA $232.32 0.00%


Chart of I:DJI
DOW 17,750.91 -140.25 -0.78%
S&P 500 2,063.37 -18.06 -0.87%
NASDAQ 4,763.2240 -54.37 -1.13%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs