Microsoft sets $40 billion stock buyback, raises dividend
Microsoft Corp. says its board has approved a dividend increase and a new $40 billion stock buyback plan.
The Redmond, Washington, company said Tuesday it will pay a quarterly dividend of 39 cents on 8 December to shareholders of record 17 November. That's up three cents, or eight percent, from its previous payout. The technology giant also said it's on track to complete its existing $40 billion stock buyback plan by year-end. The new plan has no expiration and may be terminated anytime.
Shares of Microsoft are up about 30 percent in the past year. In after-hours trading, the stock rose 67 cents to $57.48.
The GlobalCapital Executive Management Committee (from left to right) Reuben Zammit (Group CEO and Executive Director), Shawn Bezzina (CFO), Jonathan Camilleri (Life Operations Manager) and Paul Said (COO)