IBM Board Approves Increase of Regular Quarterly Cash Dividend

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PROVIDENCE, R.I. - 27 Apr 2004: The IBM Board of Directors today declared a regular quarterly cash dividend of $.18 per common share, payable June 10, 2004 to stockholders of record May 10, 2004.

Today's dividend declaration represents an increase of $.02, or 12.5 percent versus the prior quarterly dividend of $.16 per common share. This is the largest single percentage increase in the IBM dividend in seven years.

IBM has increased the quarterly dividend nine times since 1996, representing a total increase of 188 percent.

With the payment of the June 10, 2004 dividend, IBM will have paid 354 consecutive quarterly dividends, starting in 1916.


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