Confident IBM raises dividend 25%

Buoyed by jump in profits, Big Blue raises quarterly dividend to 50 cents, despite unsettled economy.

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April 29, 2008: 10:05 AM EDT

Board ups dividend at annual shareholder meeting in Charlotte.

CHARLOTTE, N.C. (AP) -- IBM is increasing its dividend payout 25%. The move reflects the company's confidence that it can thrive even with an uncertain economy.

At IBM's annual shareholder meeting Tuesday in Charlotte, the board of directors upped the quarterly dividend to 50 cents per share. For the past four quarters the payout had been 40 cents per share.

Two weeks ago IBM (IBM, Fortune 500) reported a 26% jump in profit and raised its earnings forecast for the year.

The company also plans to spend $12 billion buying back its shares in 2008.

IBM's earnings jump 26%

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Markets	Last	Change
Dow Jones	13,006.42	-3.58 / -0.03%
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Jones Apparel Group, Inc	17.31	8.66%
Chiquita Brands Intl Inc	23.90	8.19%
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Charter Communications Inc D	1.22	7.02%

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