Microsoft announces quarterly dividend increase and share repurchase program

Dividend increased 22 percent; $40 billion authorized for share repurchase.

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Sep 17, 2013, 09:00 ET

REDMOND, Wash., Sept. 17, 2013 /PRNewswire/ -- Microsoft Corp. announced on Tuesday that its board of directors declared a quarterly dividend of $0.28 per share, reflecting a 5 cent or 22 percent increase over the previous quarter's dividend. The dividend is payable Dec. 12, 2013, to shareholders of record on Nov. 21, 2013. The ex-dividend date will be Nov. 19, 2013.

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The board of directors also approved a new share repurchase program authorizing up to $40 billion in share repurchases. The new share repurchase program, which has no expiration date, replaces the previous $40 billion share repurchase program that was set to expire Sept. 30, 2013.

"These actions reflect a continued commitment to returning cash to our shareholders," said Amy Hood, chief financial officer of Microsoft.

Founded in 1975, Microsoft (Nasdaq: MSFT) is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.

SOURCE Microsoft Corp.