Latest details on Marysville-Pilchuck High School shooting >>

Microsoft increases shareholder dividend, announces new buyback

microsoftREDMOND, Wash. — In an era of change and shifting company priorities, Microsoft Corp. announced a new $40 billion stock buyback program and increased its dividend 22 percent Tuesday morning.

The company’s quarterly dividend will raise to 28 cents a share, payable on Dec. 12. The $40 billion buyback program replaces an older program sent to expire at the end of the month.

“These actions reflect a continued commitment to returning cash to our shareholders,” Amy Hood, chief financial officer of Microsoft, said in a company release.

Shares rose 3.5 percent in early trading following the announcement.

The company, founded in 1975, is currently seeking a replacement for outgoing Chief Executive Officer Steve Ballmer.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


Related Stories