site stats

Microsoft (MSFT) stock up on buyback, dividend


Microsoft CEO Satya Nadella speaks at a fireside chat with the CEO of German carmaker Volkswagen (unseen) where they unveiled their cooperation for the Volkswagen Automotive Cloud in Berlin on February 27, 2019.

Tobias Schwarz | AFP | Getty Images

Microsoft shares ticked up 1% in extended trading on Wednesday after the company said it has authorized another $40 billion for share buybacks and will raise its quarterly dividend by 5 cents to 51 cents a share.

The company has routinely bought back shares of its stock under CEO Satya Nadella, and in the fiscal year that ended on June 30 the company bought back $19.54 billion worth of its shares. In the previous year the buybacks came out to $10.72 billion. During Nadella’s tenure over the past five and a half years, Microsoft stock has risen almost quadrupled and eclipsed a trillion-dollar market cap.

Microsoft has continued to bump its quarterly dividend for shareholders. The company announced the increase of the dividend by 4 cents per share, to 46 cents, one year ago.

The dividend is payable on December 12 for shareholders of record as of November 21, Microsoft said. When it kicks in, the new dividend will be almost double what it was when Nadella took over from Steve Ballmer.

WATCH: Microsoft president Brad Smith: Powerful companies have more responsibility



Source link

You must be logged in to post a comment Login

Widgetized Section

Go to Admin » appearance » Widgets » and move a widget into Advertise Widget Zone