IBM ups dividend 50 percent in bid to boost stock

TULSA, Okla. (AP) -- International Business Machines Tuesday increased its dividend by 50 percent in an attempt to boost its stock price.<br/><br/>The move was announced Tuesday during IBM's annual

Monday, April 24th 2006, 9:52 am

By: News On 6

TULSA, Okla. (AP) -- International Business Machines Tuesday increased its dividend by 50 percent in an attempt to boost its stock price.

The move was announced Tuesday during IBM's annual shareholders meeting that's being held in Tulsa this year.

Separately the board of directors authorized IBM to buy back another $4-billion in company shares. The company already had $2.5-billion set aside to buy back shares.

IBM shares have been flat this year after falling 17 percent last year despite the company posting healthy profits, including $8-billion last year.