Wednesday, 25 April 2007 11:56

IBM boosts dividend

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IBM has announced a $US0.40 cash dividend, up from $US0.30 in the previous quarter.
IBM officials said this was the 366th consecutive quarterly dividend in a run that dates back to 1916.

The company has $US16.4 billion available to repurchase its own shares, a move likely to increase earnings per share growth in 2007 to 12 to 14 percent. This buyback will probably occur during the next several months.

"These announcements underscore the strength of IBM's business model and our strategy. Over the past several years we have taken strategic actions to capture our industry's profitable growth opportunities and to globally integrate IBM," said Samuel J. Palmisano, IBM chairman, president and chief executive officer.

"This gives us significant financial flexibility to use our capital to drive growth through investments in acquisitions and capital expenditures, and to increase returns to shareholders through dividends and stock repurchase, as we are doing today."

IBM shares closed at $US98.49 on April 24, up $US3.28.
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Stephen Withers

Stephen Withers is one of Australia¹s most experienced IT journalists, having begun his career in the days of 8-bit 'microcomputers'. He covers the gamut from gadgets to enterprise systems. In previous lives he has been an academic, a systems programmer, an IT support manager, and an online services manager. Stephen holds an honours degree in Management Sciences and a PhD in Industrial and Business Studies.

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