By Colin Kellaher

 

Microsoft Corp. on Tuesday said its board raised the quarterly dividend by 9.7% to 68 cents a share.

The new payout, equal to $2.72 a year, represents an annual yield of about 1.11% based on Monday's closing price of $244.52, up from 1.01%.

The Redmond, Wash., technology giant said the increased dividend is payable Dec. 8 to shareholders of record Nov. 17.

Microsoft is among the largest U.S. dividend payers, with cash payouts topping $18 billion for its most recent fiscal year ended June 30.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

September 20, 2022 09:30 ET (13:30 GMT)

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