Mi­crosoft sets $40 bil­lion stock buy­back, raises div­i­dend

Malta Independent - - BUSINESS -

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)

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