IBM financial approvals

The IBM Board of Directors declared a regular quarterly cash dividend of US$1.30 per common share, payable 10 December 2015 to stockholders of record 10 November 2015.

With the payment of the 10 December dividend, IBM will have paid consecutive quarterly dividends every year since 1916.

The board today also authorised US$4 billion in additional funds for use in the company’s stock repurchase programme. 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 US$2.4 billion remaining at the end of September 2015 from a prior authorisation. With this new authorisation, IBM will have approximately US$6.4 billion for its stock repurchase programme.

Ginni Rometty, IBM Chairman, President and Chief Executive Officer said: “We are committed to a higher value strategy fuelled by innovation and a shift to new growth opportunities. We manage the business for the long term and will continue to return significant value to shareholders through dividends and share repurchases."

Edited from source by Stephanie Roker

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