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 Adam Matula

Baby Elephant Has Some Serious Ribbon Dancing Skills (Video)

Elephants are apparently masters of ribbon dancing and rhythm gymnastics. Recent footage captured by tourists shows Faa Mai, a baby elephant who was rescued and currently lives at the Elephant Nature Park in Thailand, showing off in front of friends with a large blue ribbon. The intriguing baby elephant does tricks with the ribbon, spinning […]

World Adam Matula

Drunk Guy Somehow Manages To Get Stuck Under An ATM Door (Photos)

When an ATM swallowed his card, a drunken Cheng Kao got scared he might get locked inside the glass booth. He tried to escape by squeezing underneath the glass wall. Instead, he ended up stuck for an entire night. Concerned citizens of Zhejiang, an eastern province in China, called to report the stuck, unconscious man. […]

World Adam Matula

Once A Cheater Always A Cheater: Science Says Cheating Is Repetative

If your current partner cheated on their ex to be with you, it’s very possible you’re relationship is in serious trouble. Research suggests lovers who are “poached” away from others are more likely to cheat in their new relationships. Scientists at the University of Southern Alabama researched levels of commitment and satisfaction among 443 men […]

Also On Elite

World

Research Proves Men Who Objectify Women Are More Likely To Coerce Them Into Sex

A note to men who objectify women: It’s not going to get you a healthy relationship. Scientific journal Psychology of Women Quarterly recently published a study proving that men who focus on the bodies their female partners are more likely to coerce them into sexual activities. Laura R. Ramsey and Tiffany Hoyt, the study’s researchers, interviewed 119 […]

TV

Jimmy Fallon Fought Back Tears During His Heartfelt Tribute To Robin Williams (Video)

Everyone has been paying their respects to Robin Williams in the wake of his tragic death. Jimmy Fallon followed suit with a tear-jerker tribute last night on “The Tonight Show.” Fallon spoke about Williams’ impact on comedy and did so while fighting back tears. He then broke out into an excellent impression of the late comedian and […]

World

Syrian Town Makes Sign In Tribute To American Journalist James Foley

For years, the Syrian town of Kafranbel has been trying to attract more intervention in the country’s civil war in the form of handmade signs. Their latest sign, however, is dedicated to the life of James Foley, the American journalist captured in Syria in 2012 and beheaded in a video released last night. The message […]

Dating

3 Reasons Why Giving An Ultimatum Is The Death Wish To Your Relationship

When you are negotiating for a car or a house, you are taught to offer a price with which you are comfortable and then walk away without looking back. This is how you bring the power back to yourself, rather than taking it away from the opposing party. While this might work for negotiations with tangible […]