IBM Boosts Stock Buyback by $7 Billion, Raises Dividend
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International Business Machines Corp., the world’s biggest computer-services provider, boosted its stock-buyback plan by $7 billion and raised its dividend to return cash to shareholders as earnings increase.
The quarterly payout will rise 10 cents to 85 cents a share, IBM said today in a statement before a shareholder meeting in North Charleston, South Carolina. IBM had $5.7 billion remaining from a previous buyback plan, bringing the total available for repurchases to $12.7 billion.