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IBM Board Approves 10 Percent Dividend Increase; Additional Share Repurchase Authorized


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CHICAGO - 28 Apr 1998: . . . IBM today announced that its board of directors has approved a quarterly dividend increase of 10 percent, from $.20 per common share to $.22 per common share. The dividend is payable June 10, 1998 to holders of record May 8, 1998.

Including today's action, IBM's dividend has increased 76 percent since 1996.

The board also authorized the company to repurchase up to an additional $3.5 billion of IBM common shares. IBM said it plans to buy shares on the open market from time to time, depending on market conditions. Since January 31, 1995, the company has repurchased approximately $20 billion of its common stock under a series of earlier board authorizations.

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