International Business Machines Corp. (IBM) said Tuesday that its board declared a regular quarterly cash dividend of $0.95 per common share, payable June 10, 2013 to stockholders of record May 10, 2013. The dividend declaration represents an increase of $0.10, or 12 percent higher than the prior quarterly dividend of $0.85 per common share.
In addition, the company said that its board also authorized $5 billion in additional funds for use in the company's stock repurchase program. This amount is in addition to approximately $6.2 billion remaining at the end of March from a prior authorization.
With this new authorization, the company will have approximately $11.2 billion for its stock repurchase program. The company said it expects to request additional share repurchase authorization at the October 2013 board meeting.
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