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CSC to buy shares, increases dividend to 20 cents

Mon, 12/13/2010 - 4:05pm

Computer Sciences Corp., which provides technology consulting to business and the public sector, said Monday that its board increased its quarterly dividend, approved a stock repurchase plan and added a tenth member.

The Falls Church, Va., technology and software developer declared a dividend of 20 cents per share, up from 15 cents paid for the prior quarter. The dividend will be paid on Jan. 13 to stockholders of record as of Dec. 23.

The company plans to repurchase up to $1 billion worth of its shares on the open market using cash it has available.

CSC also said its board amended the company bylaws to increase the number of board members to 10 from nine and elected Erik Brynjolfsson to the board.

Brynjolfsson, 48, is a research associate at the National Bureau of Economic Research and a member of the academic adviser board of the Federal Reserve Bank of Boston. He directs the Massachusetts Institute of Technology Center for Digital Business.

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