IBM Boosts Quarterly Dividend To $1.30 a Share

IBM raised its quarterly cash dividend on Tuesday by 18% to $1.30 a share. The dividend, up from $1.10, will be payable June 10 to shareholders of record on May 8. IBM has doubled its quarterly dividend over the last five years. Shares of IBM traded flat around $170.84 in recent trade. They are up 13% over the last three months, despite reporting a 12% drop in quarterly revenue last week.