IBM Board Approves Increase of Regular Quarterly Cash Dividend

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KANSAS CITY, Mo. - 29 Apr 2003: The IBM Board of Directors today declared a regular quarterly cash dividend of $.16 per common share, payable June 10, 2003 to stockholders of record May 9, 2003. Today's dividend declaration represents an increase of $.01 or almost 7 percent versus the prior quarterly dividend of $.15 per common share.

IBM has increased the quarterly dividend eight times since 1996, representing a total increase of 156 percent.

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