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

World Sean Levinson

Teen Arrested After ISIS Allegedly Offers Him $25K To Bomb Vienna

Austrian police have arrested a 14-year-old boy who was reportedly offered $25,000 from the Islamic State to set off a series of explosions in Vienna. Two other Austrian teenagers suspected of having similar offers from the militant group are still at large, though police do not believe the three were working together. The boy, known only as […]

Politics Ileana Ros-Lehtinen

Why Congresswoman Res-Lehtinen Wants Millennials To Vote

Across the country, as TV ads blare, signs dot the landscape, and ballots are mailed, the fight for the Millennial vote is heating up. Although it is incontrovertible that Millennials are, indeed, the future, what is often overlooked is that they are also part of our present. The 2014 Midterm Elections will have far-reaching repercussions. […]

World Gillian Fuller

Four Killed In Flight Simulator When Airplane Crashes Into Their Building

Four people were killed Thursday morning when a small airplane crashed into a flight training center at Kansas’ Mid-Continent Airport. The twin-engine Beechcraft King Air B200 lost power immediately after takeoff and crashed into the airport’s FlightSafety center just before 10 am. Three people inside the building were killed, as well as the pilot, who was […]

World Emily Arata

Finally! The Scientific Reason Why Scratching Makes You Itch More

The blissful relief of scratching an insect bite is almost worth the brief pain and doubly intense itchiness that follows. A research team from Washington University School of Medicine in St. Louis discovered that when you scratch something itchy, the brain releases mood-balancing serotonin to quell pain nerve signals coming from that spot. As the neurotransmitter travels […]

Politics Luis Navia

Millennial Politics: If You Are Not At The Table, You Will Be On The Menu

Boring. Broken. Self-interested. These are adjectives that Millennials are currently using to describe Washington DC and, more specifically, Congress. I always wondered why the majority of my peers were so repelled by politics and why they only chose to vote, like the majority of Americans, for the president during the general election. A backstory for […]

Also On Elite

Women

15 Reasons Why A Girl’s Ass Will Always Be Thankful For Leggings

Leggings have come a long way in this world. Formerly the work-out-wear chic style of the 80s, we proudly reintegrated our spandex friends into our wardrobes in the early 00s. There were the early classics: leggings under mini skirts for the cool girls, leggings with tunic tops paired with dreaded waist belts that cinched your […]

Sports

Skip Bayless Thinks Kobe’s Sexual Assault Charges Helped Him Sell Shoes

Skip Bayless lost all credibility as a sports personality yesterday. At least, whatever credibility he had left. During an ESPN “First Take” segment discussing Kobe Bryant, Skip jumped off the ledge and said something so reckless, you should probably just read it for yourself below. He said, He couldn’t sell sneakers because he didn’t have enough […]

Entertainment

Sext On, My Friends: It’s Your Body, Make Your Own Decisions

After nude photos of dozens of celebrities leaked online and continue to surface, many people are left to wonder, ‘To sext or not to sext?’ Jennifer Lawrence, one of the targeted celebrities, finally broke her silence about the leaked photos in a Vanity Fair interview for the publication’s November issue. She said, It’s my body, and it […]

Politics

Colorado Governor Says Legalizing Marijuana Was A ‘Reckless’ Decision For The State

Colorado Governor John Hickenlooper called the state’s decision to legalize recreational marijuana “reckless” during a debate on Monday with his gubernatorial opponent. According to the Huffington Post, the Democrat made the comment when asked about other state governors who are debating legalizing recreational marijuana as well. Hickenlooper said, To a certain extent you could say it was […]