Microsoft Plans $40 Billion Stock Buyback, Raises Dividend
September 20 2016 - 5:20PM
Dow Jones News
Microsoft Corp. announced plans to buy back up to $40 billion in
stock and boost its dividend to 39 cents from 36 cents.
The tech giant said it's on track to complete a current
repurchase program by Dec. 31.
Microsoft tends to announce dividend increases in September.
Last year, the company raised its quarterly payout to 36 cents from
31 cents. This year's increase raises Microsoft's dividend yield to
2.7% from 2.3%.
Shares of Microsoft, up 31% over the past year, rose 1.2% to
$57.48 in after-hours trading.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
September 20, 2016 17:05 ET (21:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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