IBM Increases Dividend 13 Percent

International Business Machines Corp.’s board approved a 13 percent dividend increase and authorized an additional $7 billion to buy back shares as the company looks to return more of its rising cash levels to shareholders.

The quarterly dividend increase, to 85 cents a share from 75 cents, marks the 17th year in a row that IBM has increased its payout. It will cost the company roughly $117.4 million more per quarter and gives IBM a dividend yield of 1.7 percent, based on current stock prices.

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