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IBM Shareholders To Receive One Share of Kyndryl Services Stock For Every Five Shares of IBM Stock

By John F. Heerdink, Jr.

Reportedly, the board of International Business Machines Corporation (IBM) has approved the previously announced separation of Kyndryl, the company’s managed infrastructure services business. The IBM board of directors declared a pro-rata distribution to IBM stockholders of 80.1 percent of the outstanding shares of Kyndryl. The record date for the distribution of Kyndryl shares will be October 25, 2021. 

“Today’s announcement is a milestone for IBM, its employees, and its shareholders as we enter a new era of growth. The separation of Kyndryl is a significant step in the continued evolution of IBM, a company now squarely focused on delivering powerful hybrid cloud and AI solutions and capabilities to enterprises around the world,” stated Arvind Krishna, IBM chairman, and chief executive officer. “

Each common stockholder of IBM will receive one share of Kyndryl stock for every five shares of IBM stock held on October 25, 2021. The distribution is expected to occur after the closing of the market on November 3, 2021. The company is to retain 19.9 percent of the shares of Kyndryl common stock.

Dow 30 component International Business Machines Corporation (IBM) provides information technology (IT) products and services worldwide. To learn more about International Business Machines Corp (IBM) and to track its ongoing progress please visit the Vista Partners IBM Coverage Page

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(Read Original Story: IBM Board of Directors Approves Separation of Kyndryl in Business Wire)


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