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IBM Boosts Dividend 13%

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IBM this morning raised its quarterly dividend rate by 13% to 85 cents from 75 cents. IBM shares at the new rate yield 1.7%.

The company has now raised its dividend for 17 years in a row. This is the 9th year in a row with a double-digit percentage increase. IBM has paid a dividend every quarter since 1916.

IBM also announced a $7 billion addition to its stock repurchase program, boosting its total stock buyback authorization to $12.7 billion. The company notes that it has reduced share count by about a third since the beginning of 2000.

“We continue in our commitment to deliver value to our shareholders," CEO Ginni Rometty said in a statement. "Since 2000, we have returned over $137 billion to shareholders in the form of dividends and share repurchases. At the same time, we continue to invest in capital expenditures, acquisitions and research and development, to keep IBM at the forefront of innovation.”

IBM is up $1.54, or 0.8%, to $200.16.