IBM Board Approves Increase of Regular Quarterly Cash Dividend

The IBM board of directors today declared a regular quarterly cash dividend of $.20 per common share, payable June 10, 2005 to stockholders of record May 10, 2005.

Today’s dividend declaration represents an increase of $.02, or 11 percent versus the prior quarterly dividend of $.18 per common share. This is the tenth year in a row that IBM has increased its quarterly cash dividend, representing a total increase of 220 percent since 1996.

The board also authorized $5.0 billion in additional funds for use in its stock repurchase program, the largest authorization for buying back stock in the company’s history. IBM said it will repurchase shares on the open market or in private transactions from time to time, depending on market conditions.

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