Welcome to Microsoft Pri0: That's Microspeak for top priority, and that's the news and observations you'll find here from Seattle Times technology reporter Janet I. Tu.
Topic: share buyback
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September 17, 2013 at 9:45 AM
Microsoft’s board of directors boosted its quarterly dividend to 28 cents per share, up from the 23 cents per share that has been paid out as a dividend for the past several quarters.
The dividend is payable Dec. 12 to shareholders of record on Nov. 21. The ex-dividend date will be Nov. 19.
In addition, the board approved a new $40 billion stock buyback program, which replaces the one set to expire Sept. 30. The new buyback program has no expiration date.
The 22 percent increase in the quarterly dividend was “a bit larger than the 15 percent” Wall Street analysts had expected, longtime Microsoft analyst Rick Sherlund wrote in a note to investors this morning.
Sherlund, who works for investment bank Nomura, added in his note that the move “likely signals some ongoing changes in corporate governance.”