Microsoft sets $40bn stock buyback, raises dividend
Microsoft co-founder Bill Gates with Microsoft CEO Satya Nadella
Redmond ,Washington - Arab Today
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 Dec. 8 to shareholders of record Nov. 17. That’s up 3 cents, or 8 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.
Source: Arab News
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