International Business Machines Corp. announced Tuesday that it was raising its quarterly dividend to $1.63 a share, which marks an increase of a penny. The dividend will be payable on June 10 to shareholders of record as of May 8. IBM said in a release that it has boosted its quarterly dividend for 25 years in a row. “IBM’s free cash flow and our strong balance sheet gives us confidence to both invest aggressively in cloud and AI technologies, while also returning value to our shareholders,” Chief Executive Arvind Krishna said in the release. IBM is “fully committed to [its] dividend even during this unprecedented time,” he continued. Shares are up 1.3% in Tuesday morning trading. They’ve lost 8.6% over the past three months as the Dow Jones Industrial Average has declined 15%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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