Microsoft Plans Another $40 Billion Buyback, Boosts Dividend
- Software maker raises quarterly payout by 8.3% to 39 cents
- Existing repurchase program to be completed by year’s end
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Microsoft Corp.’s board authorized the buyback of an additional $40 billion of stock on top of an existing $40 billion repurchase program it will finish by year’s end, keeping up a strategy of returning money to shareholders as its cash pile grows.
The Redmond, Washington-based software maker also raised its quarterly dividend by 8.3 percent to 39 cents a share, according to a statement Tuesday. The company’s stock has jumped 31 percent in the past year, giving Microsoft a market capitalization of $442.7 billion -- the third-largest in the Standard & Poor’s 500 Index.