Microsoft to buy back up to $51b of shares, raises dividend
NEW YORK (AFP) - Microsoft announced a new US$40 billion (S$51 billion) share buyback on Tuesday as part of an effort by the transitioning US tech giant to return more cash to stockholders.
The tech giant, which has seen its stock stagnate in recent years, also said it was increasing its dividend by 22 per cent, to 28 cents a share.
The new share buyback comes on the heels of another share repurchase plan announced in 2008, which was set to expire on Sept 30.
"These actions reflect a continued commitment to returning cash to our shareholders," said Microsoft chief financial officer Amy Hood in a statement.