Microsoft Hikes Dividend, Announces $60 Billion Stock Buyback
Microsoft's share repurchase program, which has no expiration date, replaces its previous $60 billion authorization announced four years ago. Meanwhile, investors also cheered the news that shareholders of record as of Nov. 21 will receive a quarterly dividend of 83 cents per share, up from the current 75 cents a share.
Microsoft Stock Drives Dow After Dividend Hike
Microsoft Corp (NASDAQ:MSFT) stock is up 2.3% to trade at $441.13 this morning, propping up the Dow, after the blue-chip tech titan announced a new $60 billion share buyback plan. Microsoft also hiked its quarterly dividend by 10.7% to 83 cents per share.
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Although Microsoft stock has started to move upwards again, and Wall Street analysts have retained their optimism.
The latest trading session saw Microsoft (MSFT) ending at $431.34, denoting a +0.17% adjustment from its last day's close. The stock outperformed the S&P 500, which registered a daily gain of 0.13%.
Microsoft (MSFT) stock price has done well in the past decades, helping propel it into the second-biggest company in the ...
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