IBM Board Approves Regular Quarterly Cash Dividend

31 Oct 2006 15:42

Authorizes $4 Billion for Stock Repurchase The IBM (NYSE:IBM) board of directors today declared a regular quarterly cashdividend of $.30 per common share, payable December 9, 2006 to stockholders ofrecord November 10, 2006. With the payment of the December 9 dividend, IBM will have paid 364 consecutivequarterly dividends, starting in 1916. The board also authorized $4 billion in additional funds for use in its stockrepurchase program. This amount is in addition to approximately $2.4 billion forstock repurchase remaining from a prior authorization. With this new approval,IBM now has approximately $6.4 billion for its stock repurchase program. IBMsaid it will repurchase shares on the open market or in private transactionsfrom time to time, depending on market conditions. \* TIBMEdward Barbini, 914-499-6565barbini@us.ibm.com\* T Copyright Business Wire 2006