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The IBM (NYSE:IBM) board of directors today declared a regular quarterly cash dividend of $.30 per common share, payable December 9, 2006 to stockholders of record November 10, 2006. With the payment of the December 9 dividend, IBM will have paid 364 consecutive quarterly dividends, starting in 1916.
The board also authorized $4 billion in additional funds for use in its stock repurchase program. This amount is in addition to approximately $2.4 billion for stock repurchase remaining from a prior authorization. With this new approval, IBM now has approximately $6.4 billion for its 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.
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