Boston, MA 10/30/2013 (wallstreetpr) – The International Business Machines Corp. (NYSE:IBM) boards of directors have announced regular quarterly cash dividends amounting to $0.95 per common share which will be payable on December 10th, 2013 to the stockholders of record November 8th, 2013.
It is important and noteworthy to mention that ever since the year 1916, IBM has managed to pay consecutive quarterly dividends every year and when it pays the December 10th dividend this year, it will once again follow the tradition this year too.
The board has also authorized $15 billion as additional funds. This money will be used for the stock repurchase program of the company. IBM has mentioned that it will be repurchasing shares in the open market. They are also open to private transactions. However, their purchasing decision will ultimately depend upon the market conditions at the time when they make the final call.
The stated amount does not cover $5.6 billion amount which is a part of a previous authorization that remained at the end of September, 2013. With this new authorization in place, IBM will be having nearly $20.6 billion for its stock repurchase program. IBM is also expecting to request even more share repurchase authorization in the board meeting of October 2014.
Ginni Rometty, the chairman, president and CEO of IBM commented that they are committed to having a higher value strategy and they believe in sticking to the use of innovative and creative methods that can help them in tapping new growth opportunities that are present in the market. It is this consistent approach that has helped the company in delivering value to the shareholders every year consistently. The amount that they have given to their shareholders stands at more than $159 billion ever since 2000.
Hence, IBM continues to grow and evolve and it has its eyes set on larger returns and better growth.
