Quick Read
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IBM raised its quarterly dividend a single penny, from $1.68 to $1.69, marking its 31st consecutive increase but delivering just $0.04 more annually to shareholders.
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Microsoft grew its quarterly dividend from $0.13 to $0.98 since 2010, making it the stronger pick for investors seeking real income growth over IBM’s 2.83% yield.
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IBM’s dividend appears safe, with $14.7B in free cash flow comfortably covering its $6.3B payout, though capital is flowing toward acquisitions, $62B in debt, and quantum computing bets.
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The headline is easy to sell. IBM (NYSE:IBM) has paid consecutive quarterly dividends every year since 1916 and, with the April declaration, notched its 31st consecutive year of dividend increases. The reality a retiree actually banks is smaller. Much smaller.
A Streak That Shrank in Size
The most recent raise took the quarterly payout from $1.68 to $1.69, declared April 22, 2026. That is a penny a quarter, roughly four cents on the annualized rate. Walk the history back and the trajectory is unmistakable:
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2015: $1.10 to $1.30 (a 20-cent quarterly raise)
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2013: $0.85 to $0.95
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2011: $0.65 to $0.75
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2019: $1.57 to $1.62, then annual pennies since
Five straight one-cent bumps ($1.63, $1.64, $1.65, $1.66, $1.67, $1.68, $1.69) is a streak preserved by rounding.
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Peers on the Same Trend, Different Speeds
Cisco Systems (NASDAQ:CSCO) has taken its quarterly from $0.06 in 2011 to $0.42 in 2026, and its latest step was a familiar penny ($0.41 to $0.42). Microsoft (NASDAQ:MSFT) pushed its quarterly from $0.91 to $0.98 in September, on a run from $0.13 in 2010. Oracle (NYSE:ORCL) went from $0.40 to $0.50 in early 2025 and has held there through October 2026. IBM offers the highest yield of the group (2.83%) and the slowest growth.
