IBM Boosts Dividend
SAN FRANCISCO - IBM (IBM) - Get International Business Machines Corporation Report 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
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IBM competitor
Hewlett-Packard
declares a regular quarterly dividend of 8 cents a share.
