[ BIZ BRIEFS ]

SBC raises dividend

SBC Communications raised its quarterly dividend 11 percent,giving it the highest annual yield among phone rivals. The companyalso said it may buy back as many as 350 million shares to increasestockholder value. The dividend will rise to 31.25 cents a share from28.25 cents, the second increase this year, SBC said. The boardboosted the buyback program 75 percent to 10 percent of common stock.The fourth-quarter dividend is payable Feb. 2 to shareholders as ofJan. 10.

GM gets pension boost

General Motors said the elimination of most of its $19.3 billionU.S. pension deficit, the largest among U.S. companies at the end oflast year, will add 70 …