IBM Board Approves Quarterly Cash Dividend

ben: IBM snuck a buyback in their dividend story
Steven from North JErsey: circuit breaker haly
ben: way late now

IBM Board Approves Quarterly Cash Dividend
Oct 26 at 10:24
Profile hits: QU1

      Authorizes $10.0 Billion for Stock Repurchase
      ARMONK, N.Y.--(BUSINESS WIRE)-- The IBM (NYSE: IBM) board of directors
today declared a regular quarterly cash dividend of $0.65 per common share,
payable December 10, 2010 to stockholders of record November 10, 2010.
      With the payment of the December 10 dividend, IBM will have paid
consecutive quarterly dividends every year since 1916.
      The board today also authorized $10 billion in additional funds for use
in the company's stock repurchase program. IBM said it will repurchase shares on
the open market or in private transactions from time to time, depending on
market conditions.
      This amount is in addition to approximately $2.3 billion remaining at
the end of September 2010 from a prior authorization. With this new
authorization, IBM will have approximately $12.3 billion for its stock
repurchase program. IBM expects to request additional share repurchase
authorization at the April 2011 board meeting.
      Samuel J. Palmisano, IBM chairman, president and chief executive officer
said "IBM's higher value, higher margin business strategy has enabled the return
of $91 billion since 2003 to our shareholders through share repurchases and
dividends. We've done this while investing to bring new products and services to
market, and expanding IBM's business into new, emerging markets."