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Microsoft Corp said on Tuesday that its board had authorized a new stock repurchase program of up to $ 60 billion, while increasing the quarterly dividend by 11%.
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The new $ 0.62 dividend per share is up 6 cents from the previous quarter’s dividend.
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Microsoft said the stock repurchase program, which has no expiration date, can be terminated at any time.
The campus of Microsoft’s headquarters in RedmondMicrosoft Corp. said Tuesday that its board had authorized a new stock repurchase program of up to $ 60 billion, while increasing the quarterly dividend by 11%. (iStock)
The company’s board also approved the appointment of Brad Smith as president and vice president of Microsoft.
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Although Smith already serves as president of the company, Microsoft said the vice president was an updated executive role for him.