Microsoft approves $40 billion share repurchase program, raises quarterly dividend

ReutersSep 19, 2019 08:14:16 IST

Microsoft Corp said on Wednesday its board had approved a new share repurchase programme of up to $40 billion and raised its quarterly dividend.

The company's shares rose 1.3 percent to $140.35 in after-market trading.

Microsoft, which said it would hold its annual shareholders meeting on 4 December, also declared a quarterly dividend of 51 cents per share, 11 percent higher than the preceding quarter.

Microsoft, which said it would hold its annual shareholders meeting on 4 December, also declared a quarterly dividend of 51 cents per share, 11 percent higher than the preceding quarter. Image: Reuters

The repurchase programme, which has no expiration date, may be terminated at any time.

The Redmond, Washington-based company returned $7.7 billion to shareholders in the form of share repurchases and dividends in the fourth quarter of fiscal year 2019.