Dow Jones News: IBM Raises Dividend; 3M Beats Expectations

The Dow Jones Industrial Average (DJINDICES: ^DJI) began Tuesday solidly higher, but by 11:20 a.m. EDT that gain had vanished, with the index roughly flat. Investors are digesting a slew of earnings reports, as well as news that some states are planning to reopen parts of their economies.

Shares of International Business Machines (NYSE: IBM) and 3M (NYSE: MMM) had edged higher in the morning. IBM announced a dividend increase even as uncertainty surrounding the pandemic remains high, and 3M reported solid first-quarter results.

While some companies are cutting or suspending their dividend payments amid the novel coronavirus pandemic, IBM announced on Tuesday that it would increase its quarterly dividend. The new dividend of $1.63 per share is just $0.01, or 0.6%, higher than the previous dividend, but a minimal boost isn't surprising given the uncertainty surrounding the pandemic.

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Source Fool.com