IBM Boosts Buyback, Dividend as Sales Flatten

IBM Boosts Buyback, Dividend as Sales Flatten
News
Like Us On Facebook
Like Us On Facebook

IBM(IBM_) is in a giving mood, as the company announced it will be returning even more cash to shareholders in the form of a bigger dividend and buyback. The New York-based technology software and services company, which reported disappointing first-quarter earnings last week, said it will raise its quarterly dividend to 85 cents per share, a 13% increase. IBM beat earnings estimates but sales were flat.

IBM’s board of directors also said it will buy back an additional $7 billion in stock. The company has $5.7 billion remaining in a previous program, bringing the total to $12.7 billion. IBM said it expects to request yet another share-repurchase authorization at its October board meeting.

IBM President and CEO Ginni Rometty said the company has returned $137 billion to shareholders since 2000.

Shares of IBM are higher in early Tuesday trading, up 1.1% to $200.73.

The Street

Share Tweet
React
Like Us On Facebook
Like Us On Facebook

Preston Waters

Preston Waters is a thinker. He's not your traditional philosophical persona, however, as he leaves no topic untouched. Covering all the bases, from business to women, Preston Waters is the ultimate man's man for Gen-Y.

More In News

Technology Ashley Fern

The New Sex App Mixxxer Makes Tinder Look Like Child’s Play

It’s 2014 — we’ve got smartphones, tablets and wireless speakers, but Americans still can’t seem to get laid on their own. Over the past few years, we have been inundated with dozens of mobile applications that help people connect with other people. Despite all of our social media use, we’ve actually become anti-social, thus creating […]

News Zoe Zorka

5 Reasons Not To Give Up On Apple, Despite Its Recent Stock Dip

With the Tuesday release of Apple’s so-so quarterly financial results, the Internet was quick to speculate that this might be the end of an era. Ever since Steve Jobs’ retirement and passing, many wondered whether or not Tim Cook would live up to the high innovation bar that Jobs had set. Since Cook took over […]

Also On Elite

LOL Lists

TBT: The Very Best Elaine Moments From ‘Seinfeld’

“Seinfeld” may have been “before our time” but that doesn’t mean we don’t watch it like it’s still the funniest running show on television. “Pure genius,” is how many have come to describe the dry humor of Larry David’s iconic “show about nothing.” However, where its genius really lies is in the quirky nature of […]