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IBM: dividend hike boosts stock

( - IBM shares rose slightly on Wall Street early on Tuesday morning following the group's announcement that it is increasing its quarterly dividend.

The technology group's shares were up 0.4% in early trading, while the S&P 500 index was down around 0.7%.

This morning the Armonk, New York-based company announced that it had raised its quarterly dividend by one cent, from 1.64 dollar to 1.65 dollar per share.

The decision marks the 27th consecutive year of dividend increases, IBM says, which has been paying a quarterly dividend to its shareholders since 1916.

At Tuesday's share price, IBM was worth just over 125 billion dollars, a far cry from its peak reached in 2013.

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