Short Reports

IBM Corp.’s board of directors on Tuesday declared a 1-cent-per-share increase in the regular quarterly cash dividend, boosting the dividend to 13 cents per share. The dividend will be payable June 10 to IBM stockholders of record on May 10. IBM has increased its quarterly dividend five times since 1996. The IBM board also authorized the use of up to $3.5 billion in additional funds for share buybacks.

U S West is launching a Web-based think tank to share information on digital technology with the public and businesses. The Center for Digital Culture will be an independent clearinghouse for reports, information and resources, Vice President Philip Burgess said. The center eventually will operate a Web site, www.digitalculturecenter.com, that will offer special reports, news briefs, guest columns and a message board.

International Paper Co., the world’s largest producer of forestry and paper products, said Tuesday it has offered to buy Champion International Corp. in a cash and stock transaction worth around $6.2 billion.

Sweden’s AB Volvo and French carmaker Renault SA will join together to create the world’s second-largest manufacturer of heavy trucks in a deal worth $1.6 billion.

Samsung Motors Inc.’s 16 creditor banks on Tuesday ceded control of the bankrupt company to French carmaker Renault in a $562 million deal that many analysts considered a giveaway. Renault will get a 70.1 percent stake in Samsung Motors, and an infusion of its funds and expertise would put pressure on the Hyundai business group, which commands more than 70 percent of the domestic car market.

Correction: A headline on a story about Sunshine Mining and Refining Co. in Tuesday’s edition of The Spokesman-Review gave an incorrect name for the company.