The International Business Machines (IBM) Board approved an increase of its quarterly cash dividend for the 25th consecutive year. IBM will raise its quarterly dividend from $1.62/share to $1.63/share (payable June 10, 2020, to stockholders of record as of May 8, 2020) IBM’s dividend yield is around 5% at the time of this writing.
With this very small increase of $0.01, the tech company could join the list of dividend aristocrats, S&P 500 companies that have increased cash dividends to shareholders for 25 straight years. This pending the official announcement by S&P Dow Jones Indices. IBM has paid consecutive quarterly dividends since 1916.
Source: press release businesswire