Microsoft announces quarterly dividend increase and new share repurchase program

Rhea-AI Summary

Microsoft Corp. announced a quarterly dividend of $0.62 per share, representing an 11% increase over the prior quarter. This dividend, payable on Dec. 9, 2021, rewards shareholders with an enhanced return on investment. Additionally, the company approved a new $60 billion share repurchase program, aimed at further boosting shareholder value without an expiration date. Brad Smith has been appointed as the new president and vice chair. The 2021 Annual Shareholders Meeting is set for Nov. 30, 2021.

Positive

• Dividend increased by 11%, enhancing shareholder returns.
• New share repurchase program valued at $60 billion, supporting stock price.
• Appointment of Brad Smith reflects strong leadership.

Negative

• None.

REDMOND, Wash., Sept. 14, 2021 /PRNewswire/ -- Microsoft Corp. on Tuesday announced that its board of directors declared a quarterly dividend of $0.62 per share, reflecting a 6 cent or 11% increase over the previous quarter's dividend. The dividend is payable Dec. 9, 2021, to shareholders of record on Nov. 18, 2021. The ex-dividend date will be Nov. 17, 2021.

The board of directors also approved a new share repurchase program authorizing up to $60 billion in share repurchases. The new share repurchase program, which has no expiration date, may be terminated at any time.

The board of directors approved the appointment of Brad Smith as president and vice chair of Microsoft. "This reflects the unique leadership role that Brad plays for the company, our board of directors and me, with governments and other external stakeholders around the world," said Satya Nadella, chairman and chief executive officer of Microsoft. This is an updated executive role for Mr. Smith who will continue to report to Mr. Nadella.

In addition, the company announced the date for the 2021 Annual Shareholders Meeting, to be held on Nov. 30, 2021. Shareholders at the close of business on Sept. 30, 2021, the record date, will be entitled to vote their shares.

This year's annual shareholders meeting will be held virtually and hosted by Satya Nadella, chairman and chief executive officer; Amy Hood, chief financial officer; Brad Smith, president and vice chair; and John W. Thompson, Microsoft lead independent director.

Microsoft (Nasdaq "MSFT" @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.

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SOURCE Microsoft Corp.

FAQ

What is the new quarterly dividend announced by Microsoft (MSFT)?

Microsoft announced a quarterly dividend of $0.62 per share, an 11% increase.

When will the new dividend be paid to shareholders?

The dividend will be payable on Dec. 9, 2021.

What is the purpose of the new share repurchase program by Microsoft (MSFT)?

The $60 billion share repurchase program aims to boost shareholder value.

Who has been appointed as the new president of Microsoft (MSFT)?

Brad Smith has been appointed as president and vice chair of Microsoft.

When is Microsoft’s 2021 Annual Shareholders Meeting scheduled?

The Annual Shareholders Meeting is scheduled for Nov. 30, 2021.