International Business Machines (IBM) will raise its quarterly dividend by another 0.6 percent to $1.64 per share in 2021. This comes after a similar small hike of 0.6 percent to $1.63 per share in 2020. This marks the 26th consecutive year of annual dividend increases by the technology company. The 0.6 percent hikes in both 2020 and 2021 are the smallest by the technology giant in the last 25 years.

The next dividend is payable June 10, 2021 to stockholders of record as of May 10, 2021. A new annualized dividend rate of  $6.56 per share yields 4.6% at a stock price of $142.

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. This year's dividend hike, matching the 2020 hike, is the smallest since IBM started hiking its dividend annually back in 1996.

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. IBM has paid consecutive quarterly dividends since 1916.