Few technology stocks are as reliable and mature as International Business Machines (IBM -0.09%). Even fewer can match its massive free cash flows, which totaled $12.1 billion over the last four quarters. And then Big Blue returned $6.6 billion of that cash profit to shareholders in the form of dividends and share buybacks.

The company is also committed to increasing its dividend payouts every year. Thirty years ago, those quarterly checks were $0.0625 per split-adjusted share. Today, the quarterly payout is $1.67 per share, or $6.68 per year. That’s a 2,572% increase over three decades.

IBM dividend data from YCharts

Dividend increases have been slow in recent years, but IBM’s board insists on at least a symbolic increase each year. For example, the $1.67 per share dividend IBM paid on June 10 was $0.01 higher than the $1.66 per share paid in the previous four payments. Although the dividend increases have been modest, they underscore IBM’s commitment to shareholders, even in a difficult economic environment.

Where there is rapid payout growth, there is a hot dividend yield

IBM’s increasing payouts have also led to a healthy dividend yield of 3.5%. The average yield at S&P500 shares is 1.3%, Nasdaq-100 Stocks offer an average return of just 0.6%, and the most generous return from the Magnificent Seven technology giants is Microsoft0.8%. As mentioned, IBM’s dividend stands out compared to other technology stocks – especially if you limit the scope of analysis to large-cap stocks.

So if you’re looking for a solid dividend payout from a big tech stock, IBM is hard to beat. The company combines decades of staying power with strong cash flows, resulting in a shareholder-friendly dividend yield. Additionally, the company has a keen interest in artificial intelligence (AI), which will most likely lead to strong growth over the next few years.

Whether you’re interested in IBM because of its dividends, AI growth opportunities, or bargain price, the stock seems like a great buy right now.