ARMONK, N.Y.--(BUSINESS WIRE)--The IBM (NYSE:IBM) board of directors today declared a regular quarterly cash dividend of $1.40 per common share, payable December 10, 2016 to stockholders of record November 10, 2016.
With the payment of the December 10 dividend, IBM will have paid consecutive quarterly dividends every year since 1916.
The board today also authorized $3 billion in additional funds for use in the company’s stock repurchase program. IBM said it will repurchase shares on the open market or in private transactions from time to time, depending on market conditions.
This amount is in addition to approximately $3 billion remaining at the end of September 2016 from a prior authorization. With this new authorization, IBM will have approximately $6 billion for its stock repurchase program.
Ginni Rometty, IBM chairman, president and chief executive officer said, "IBM continues to invest in our business for long-term growth, and the company has already invested more than $12 billion in the first three quarters of 2016 to build higher-value offerings. At the same time we remain committed to returning capital to shareholders through both dividends and share repurchase."