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IBM raises divided, expands stock buyback

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CIOL Bureau
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BOSTON, USA: International Business Machines Corp, the world's biggest technology services company, raised its quarterly dividend and expanded its share buyback on Tuesday.

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The company's board boosted its quarterly dividend to 65 cents per share from 55 cents per share ahead of its annual shareholder meeting in Milwaukee, Wisconsin.

It also authorized the company to spend another $8 billion on share repurchases, on top of $2 billion remaining from its previous authorization. Last year the company spent about $7.5 billion buying back its own stock.

IBM shares rose 24 cents, 0.2 percent to $130.97 in morning trade on the New York Stock Exchange, compared with a slight dip in the Dow Jones Industrial Average.

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