IBM raises dividend by 10%

International Business Machines Corp. boosted its quarterly dividend 10% and said its board authorized another $3 billion for the company’s stock repurchase program, bringing the buyback program’s total to $6.7 billion.

It would begin paying a quarterly dividend of 55 cents per share, up from the previous 50 cents.

Shares of IBM rose 2% in afternoon trading to $102.46.