Microsoft sets $US40 billion stock buyback
AP on September 21, 2016, 11:20 am
The board of Microsoft has approved a $US40bn share buyback and a dividend increase.
Microsoft Corp says its board has approved a dividend increase and a new $US40 billion ($A53 billion) stock buyback plan.
The Redmond, Washington, company said on Tuesday it will pay a quarterly dividend of 39 cents on December 8 to shareholders. That's up 3 cents, or 8 per cent, from its previous payout.
The technology giant also said it's on track to complete its existing $US40 billion stock buyback plan by year-end. The new plan has no expiration and may be terminated anytime.
Shares of Microsoft are up about 30 per cent in the past year. In after-hours trading, the stock rose 67 cents to $US57.48.
