Microsoft announces share buyback of up to $60 bln, ups dividend

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A Microsoft brand is seen in Los Angeles, California, U.S. June 14, 2016. REUTERS/Lucy Nicholson/File Picture

Sept 14 (Reuters) – Microsoft Corp stated on Tuesday its board had licensed a brand new share buyback program of as much as $60 billion, whereas additionally elevating the quarterly dividend by 11%.

The brand new dividend of $0.62 per share is a rise of 6 cents over the earlier quarter’s dividend.

Microsoft stated the share buyback program, which has no expiration date, could also be terminated at any time.

The corporate’s board additionally authorized the appointment of Brad Smith as president and vice chair of Microsoft.

Whereas Smith already serves because the president of firm, Microsoft stated that vice chair was an up to date government function for him.

Reporting by Shubham Kalia in Bengaluru; Enhancing by Anil D’Silva


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