IBM increased its stock buyback plan by $8 billion and raised its dividend by 15 percent.
International Business Machines said on Tuesday it would pay a quarterly cash dividend of 75 cents a share, an increase of 10 cents a share and the sixteenth straight year it has boosted the shareholder payout.

IBM has paid a dividend every quarter since 1916.

The world's largest technology services company also said the additional funds in its stock buyback program would increase the total to $12.7 billion. It said it plans to request additional share purchase authorization at its board meeting in October.