Microsoft Boosts Dividend By 11%, Approves $40 Bln Buyback

(RTTNews) - Tech giant Microsoft Corp. (MSFT) Wednesday announced that its board of directors declared a quarterly dividend and also approved $40 billion in share buyback.

The board of directors approved a new share repurchase program authorizing up to $40 billion in share repurchases. The new share repurchase program, which has no expiration date, may be terminated at any time.

The company also declared a dividend of $0.51 per share, reflecting a 5 cent or 11% increase over the previous quarter's dividend. The dividend is payable December 12, 2019, to shareholders of record on November 21, 2019.

In addition, the company announced the date for the 2019 Annual Shareholders Meeting, to be held on December 4, 2019. Shareholders at the close of business on October 8, 2019, the record date, will be entitled to vote their shares.