Microsoft Increases Dividend, OKs New Stock Buyback Plan

By Kimberly Chin

Microsoft Corp. on Tuesday said its board raised its quarterly dividend and approved a new stock buyback program.

The company's new dividend is 62 cents a share, an 11% increase from the previous quarter's dividend. The dividend is payable on Dec. 9 to shareholders of record as of Nov. 18. The ex-dividend date will be Nov. 17, the company said.

Microsoft's board also greenlit a new stock buyback plan of up to $60 billion.

The company plans to hold its annual shareholder meeting on Nov. 30.

Write to Kimberly Chin at [e-mail]

(END) Dow Jones Newswires

09-14-21 1907ET