IBM declares USD1.40 quarterly cash dividend; authorizes USD3bn stock buyback

The IBM (NYSE:IBM) board of directors has declared a regular quarterly cash dividend of USD1.40 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 USD3 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 USD3 billion remaining at the end of September 2016 from a prior authorization. With this new authorization, IBM will have approximately USD6 billion for its stock repurchase program.