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Short Take: IBM approves dividend increase

IBM's board of directors has approved a quarterly dividend increase of 14 percent from 35 to 40 cents per common share, or 20 cents per common share after taking into account a proposed two-for-one stock split. IBM stockholders, at the company's annual meeting today in Dallas, will vote on the stock split proposal. The company's board also approved the repurchase of $3.5 billion worth of IBM common shares.

IBM's board of directors has approved a quarterly dividend increase of 14 percent from 35 to 40 cents per common share, or 20 cents per common share after taking into account a proposed two-for-one stock split. IBM stockholders, at the company's annual meeting today in Dallas, will vote on the stock split proposal. The company's board also approved the repurchase of $3.5 billion worth of IBM common shares.