IBM BOARD APPROVES INCREASE IN QUARTERLY CASH DIVIDEND FOR THE 28th CONSECUTIVE YEAR

Rhea-AI Summary

The IBM board of directors has announced a quarterly cash dividend increase to $1.66 per common share, marking the 28th consecutive year of dividend growth. This dividend will be payable on June 10, 2023, to stockholders of record as of May 10, 2023. IBM has maintained a consistent dividend payout since 1916, highlighting its stable financial performance. CEO Arvind Krishna emphasized strong revenue growth and robust cash generation, enabling the company to return capital to shareholders.

Positive

• Quarterly dividend increased to $1.66 per share.
• 28 consecutive years of dividend growth.
• Strong recurring revenue stream and cash generation.

Negative

• None.

News Market Reaction – IBM

+0.39%

+0.39% Session move

In the trading session that priced this news, IBM gained 0.39%, reflecting a mild positive market reaction.

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ARMONK, N.Y., April 25, 2023 /PRNewswire/ -- The IBM (NYSE: IBM) board of directors today declared an increase in the regular quarterly cash dividend to $1.66 per common share, payable June 10, 2023 to stockholders of record as of May 10, 2023.

This is the 28th year in a row that IBM has increased its quarterly cash dividend. IBM has paid consecutive quarterly dividends since 1916.

Arvind Krishna, IBM chairman and chief executive officer, said: "Clients and partners around the world are turning to IBM's hybrid cloud and AI technologies and services as they look to unlock productivity and automate operations and processes. Our consistent revenue growth, strong recurring revenue stream and solid cash generation enable us to invest in our business as well as return capital to shareholders through our dividend."

Contact:

Tim Davidson
914-844-7847
tfdavids@us.ibm.com

 

 

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SOURCE IBM

FAQ

What is the new dividend amount for IBM?

IBM has increased its quarterly dividend to $1.66 per share.

When will the new dividend for IBM be paid?

The new dividend will be paid on June 10, 2023.

What is the record date for IBM's dividend?

The record date for IBM's dividend is May 10, 2023.

How many years has IBM increased its dividend?

IBM has increased its dividend for 28 consecutive years.

When did IBM start paying dividends?

IBM has paid dividends consistently since 1916.