Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Livemint
Livemint
Business
Livemint

Microsoft announces share buyback of up to $60 billion, ups dividend

FILE PHOTO: A Microsoft logo is seen in Los Angeles, California, U.S. June 14, 2016. REUTERS/Lucy Nicholson/File Photo (REUTERS)

Microsoft Corp said on Tuesday its board had authorized a new share buyback program of up to $60 billion, while also raising the quarterly dividend by 11%.

The new dividend of $0.62 per share is an increase of 6 cents over the previous quarter's dividend.

Microsoft said the share buyback program, which has no expiration date, may be terminated at any time.

The company's board also approved the appointment of Brad Smith as president and vice chair of Microsoft.

While Smith already serves as the president of company, Microsoft said that vice chair was an updated executive role for him.

 

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.