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Increasing its program for returning capital to shareholders, Microsoft late Tuesday mentioned its board voted to each enhance its quarterly dividend and undertake a brand new share repurchase program.
Microsoft
(ticker: MSFT) raised its quarterly dividend charge by 11%, to 62 cents from 56 cents. It was the twelfth straight yr that the corporate has boosted its quarterly payout following its September board assembly. The brand new charge offers the corporate a yield of 0.8%. The hike follows will increase of 10% final yr and 11% in 2019.
The corporate additionally introduced a brand new $60 billion inventory repurchase program, with no particular expiration date.
Microsoft additionally mentioned its board has appointed President Brad Smith to the added position of vice chair. “This displays the distinctive management position that Brad performs for the corporate, our board of administrators and me, with governments and different exterior stakeholders all over the world,” Microsoft CEO and Chairman Satya Nadella mentioned in a press release.
Microsoft in late buying and selling is up 0.9%, to $302.51.
Write to Eric J. Savitz at eric.savitz@barrons.com
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