Microsoft announced a share buyback worth USD 40 billion
Microsoft, the world’s largest software manufacturer, on Tuesday announced a share buyback worth USD 40 billion.
The US multinational will raise its dividend payout to shareholders by 22 per cent. Shares in Microsoft rose 1.4 per cent after the announcement.
In a statement on Tuesday, Microsoft said the quarterly dividend would be raised by 5 cents a share to USD 0.28 and the new share buyback will be open-ended, a change from the previous schemed which expires this month.
“These actions reflect a continued commitment to returning cash to our shareholders,” said Amy Hood, chief financial officer of Microsoft.