IBM Raises Dividend By 50%

International Business Machines Corp. Tuesday raised its quarterly cash dividend 50 percent and authorized $4 billion in additional funds for use in its stock repurchase program.

The 30 cent per share dividend, payable on June 10 to stockholders of record on May 10, represents an increase of 10 cents from the prior quarterly dividend of 20 cents. The percentage increase is the largest in the history of IBM.

The extra $4 billion for stock repurchase is in addition to $2.5 billion for buybacks remaining from a prior authorization.