IBM Boosts Dividend

Big Blue lifts its payout by 10 cents.

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Publish date:: Apr 29, 2008 11:03 AM EDT

SAN FRANCISCO - IBM (IBM) - Get 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

Arch Coal

(ACI) - Get Report

and

Carpenter Technology

(CRS) - Get Report

IBM competitor