IBM boosts quarterly dividend payout 18 percent to 65 cents per share; buying back more stock

IBM boosts dividend 18 pct, extends share buyback

MILWAUKEE — IBM Corp. is increasing its dividend payout by 18 percent and buying back more of its stock. Both moves are designed to boost the company’s share price.

The technology company said Tuesday at its annual shareholders meeting, held this year in Milwaukee, that it is raising the quarterly dividend payout to 65 cents per share. It had been 55 cents a share for the past four quarters.

IBM has developed a habit of announcing dividend increases at its shareholder meetings. The per-share payout has more than tripled since 2006.

IBM also says its board has authorized $8 billion for buying back its stock. The company says it now has $10 billion available for that purpose.

IBM shares rose 94 cents to $131.67 in morning trading.