World Economy

Microsoft Plans $40b Share Buyback

Microsoft Plans $40b Share BuybackMicrosoft Plans $40b Share Buyback

Microsoft Corp raised its quarterly dividend by 8% and said it would buy back up to $40 billion as part of a new share repurchase program, Reuters reported. The company raised its dividend to 39 cents per share, up 3 cents from the previous quarter. The technology giant last raised its dividend in September last year. The new buyback program has no expiration date and may be terminated at any time, the company said. Microsoft’s shares were up 1% at $57.41 in extended trading on Tuesday.