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