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IBM Board Approves 7 Percent Increase of Regular Quarterly Cash Dividend

Authorizes Additional $3.5 Billion for Share Buybacks

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LOUISVILLE, Ky. - 30 Apr 2002: The IBM Board of Directors today declared a regular quarterly cash dividend of $.15 per common share, payable June 10, 2002 to stockholders of record May 10, 2002. Today's dividend declaration represents an increase of $.01 or 7 percent versus the prior quarterly dividend of $.14 per common share.

IBM has increased the quarterly dividend seven times since 1996, representing a total increase of 140 percent.

The IBM board also authorized up to $3.5 billion in additional funds for use in its share repurchase program. IBM said it will repurchase shares on the open market from time to time, depending on market conditions.

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