International Business Machines (IBM) will raise its quarterly dividend by 3.2 percent to $1.62 per share in 2019. This marks the 24th consecutive year of annual dividend increases by the technology company.

The next dividend is payable June 10, 2019 to stockholders of record as of May 10, 2019. A new annualized dividend rate of  $6.48 per share yields 4.6% at a stock price of $139.59.

Dividend growth has been slowing in the last four years, with smaller increases every year. The last time IBM hiked its dividend by double digits was in 2015 with a 18.2 percent increase.

Ginni Rometty, IBM chairman, president and chief executive officer said, "Our strong cash generation has enabled IBM to invest aggressively in the emerging, high-value segments of our industry, while continuing to return capital to our shareholders."

International Business Machines Corporation (IBM) is a hardware, software and services company  transforming into a cognitive solutions and cloud platform company. IBM offers its clients integrated solutions and products that leverage: data, information technology, deep expertise in industries and business processes, and a broad ecosystem of partners and alliances. The company’s operations consist of five business segments: Cognitive Solutions, Global Business Services, Technology Services & Cloud Platforms, Systems and Global Financing. The company originated in 1911 as the Computing-Tabulating-Recording Company (CTR) and was renamed "International Business Machines" in 1924. IBM has paid consecutive quarterly dividends since 1916.