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Microsoft approves $40 billion share repurchase program

Published 09/18/2019, 04:28 PM
Updated 09/18/2019, 04:28 PM
Microsoft approves $40 billion share repurchase program

(Reuters) - Microsoft Corp (O:MSFT) said on Wednesday its board had approved a new share repurchase program of up to $40 billion and raised its quarterly dividend.

The company's shares rose 1.3% to $140.35 in after-market trading.

Microsoft, which said it would hold its annual shareholders meeting on Dec. 4, also declared a quarterly dividend of 51 cents per share, 11% higher than the preceding quarter.

The repurchase program, which has no expiration date, may be terminated at any time.

The Redmond, Washington-based company returned $7.7 billion to shareholders in the form of share repurchases and dividends in the fourth quarter of fiscal year 2019.

Latest comments

unbelievable to me that the SEC still allows companies to buy their stock back. One would think at this point that the SEC would pass a law that says stock BuyBacks need to be tied to some measure like labor cost or maybe capital investment. just an educated response is what one would expect at this point.
Is this the tax cut they received? This will only help the wealthy. Oh yeah, that was the plan.
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