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IBM said Tuesday it raised its quarterly cash dividend by 25 percent to 50 cents per share, lifting its payout to shareholders for the 13th year in a row.
The move came two weeks after International Business Machines [IBM
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] reported stronger-than-expected first-quarter results and raised its 2008 outlook, showing strength in technology services, consulting and software revenues.
Shares of IBM, the world's largest computer services company, rose in early trading on the New York Stock Exchange.
IBM, which holds its annual shareholders meeting Tuesday, said the dividend is payable on June 10. Its previous quarterly cash dividend was 40 cents per share.
The company said it has increased its quarterly dividend by 150 percent since 2006. It said this would be the 13th year in a row that it has increased its quarterly cash dividend.
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