Shares of popular tech company International Business Machines Corporation (IBM) have experienced a 10.3% dip year-to-date. However, the company reported its first quarter results yesterday, surpassing the consensus EPS estimate by 9.7%. The company looks well-positioned to stay on its growth trajectory.
Moreover, IBM pays a $6.60 per share dividend annually, which translates to a 5.22% yield on its current price. In the first quarter, the company returned $1.5 billion to shareholders through dividends. Additionally, for the full year 2023, IBM expects constant currency revenue growth between 3% and 5%. The company also reiterated its anticipation of $10.5 billion in free cash flow, up more than $1 billion year-over-year.
