W. Subsequent events
On January 29, 2008, the company announced that the Board of Directors approved a quarterly dividend of $0.40 per common share. The dividend is payable March 10, 2008 to shareholders of record on February 8, 2008.
On January 29, 2008, IBM International Group Capital LLC, an indirect, wholly owned subsidiary of the company, issued $3.5 billion of 18-month floating rate notes. The proceeds will be utilized to reduce the 364-day bridge loan associated with the 2007 ASR. (See `“Financial Position” for additional information.)
On January 31, 2008, the company completed the acquisition of Cognos, Inc, a publicly held company, for approximately $5.0 billion in cash.
On February 26, 2008, the company announced that the Board of Directors authorized $15 billion in additional funds for use in the company’s common stock repurchase program.
