IBM Lifts Dividend 15 Percent

International Business Machines Corp.’s board approved a 15 percent increase to the technology company’s quarterly cash dividend and authorized an additional $8 billion to buy back shares.

The company increased its quarterly dividend payment by 10 cents to 75 cents a share. It was the 16th consecutive year IBM has lifted the payout, and the eighth year in a row the dividend notched a double-digit increase on a percentage basis. Last April, the increase was 18 percent.

The latest increase will cost IBM an additional $496 million a year. IBM has paid a dividend every year since 1916.

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