Microsoft announces share buyback of up to $60 billion, ups dividend

Microsoft announces share buyback of up to $60 billion, ups dividend

Stock Markets50 minutes ago (Sep 14, 2021 07:41PM ET)

(C) Reuters. FILE PHOTO: A Microsoft logo is seen in Los Angeles, California, U.S. June 14, 2016. REUTERS/Lucy Nicholson/File Photo

(Reuters) -Microsoft Corp said on Tuesday its board had authorized a new share buyback program of up to $60 billion, while also raising the quarterly dividend by 11%.

The new dividend of $0.62 per share is an increase of 6 cents over the previous quarter’s dividend.

Microsoft (NASDAQ:MSFT) said the share buyback program, which has no expiration date, may be terminated at any time.

The company’s board also approved the appointment of Brad Smith as president and vice chair of Microsoft.

While Smith already serves as the president of company, Microsoft said that vice chair was an updated executive role for him.

Microsoft announces share buyback of up to $60 billion, ups dividend

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