Microsoft Hikes Dividend, Announces $60 Billion Stock Buyback
Microsoft's share repurchase program, which has no expiration date, replaces its previous $60 billion authorization announced four years ago. Meanwhile, investors also cheered the news that shareholders of record as of Nov. 21 will receive a quarterly dividend of 83 cents per share, up from the current 75 cents a share.
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The latest trading session saw Microsoft (MSFT) ending at $431.34, denoting a +0.17% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily gain of 0.13%.
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