International Business Machines took its penultimate step toward becoming a Dividend Aristocrat on Tuesday, raising its quarterly dividend for the 24th consecutive year. The company has doled out dividend payments to its shareholders without fail since 1916.
Shareholders of record as of May 10 will receive a quarterly dividend of $1.62 per share on June 10. That’s up $0.05 over the previous dividend, representing a 3.2% increase. You have to go back to the financial crisis to find a dividend hike this small from IBM, and it’s the smallest percentage increase since IBM began its 24-year streak.
Reported by The Motley Fool