Topic: How To Invest

Dividend Advisor Hotline – Friday, May 3, 2024

Article Excerpt

INTERNATIONAL BUSINESS MACHINES CORP., $165.71, New York symbol IBM, is a top pick for 2024. The company is one of the world’s largest computer firms, with operations in over 175 countries. With the June 2024 payment, IBM will raise your quarterly dividend by 0.6%, to $1.67 a share from $1.66. The new annual rate of $6.68 yields a solid 4.0%. The company has paid regular dividends since 1916 and has increased the annual rate each year for the past 29 years. IBM is now buying HashiCorp Inc. (Nasdaq symbol HCP). That firm makes software to help companies set up and manage their cloud-based computer networks. Assuming HashiCorp shareholders and regulators approve, IBM will pay $6.4 billion when the deal closes, probably by the end of 2024. The purchase is part of IBM’s plan to focus on its more-profitable cloud computing, consulting and mainframe businesses. It now gets over 75% of its revenue from software and consulting services. In the three months ended March 31, 2024, revenue…