By Investing.com Staff
With shares down 27% year-to-date, Microsoft (NASDAQ:MSFT)shareholders haven't had much to cheer about this year. This morning, however, the company announced another 10% dividend hike. While the dividend yield is only 1.1%, the 10% hike is better than the current inflation rate of 8.3%.
The tech giant declared a quarterly dividend of $0.68 per share, or $2.72 annualized. This is a 10% increase from the prior dividend of $0.62. The dividend will be payable on December 8, 2022, to stockholders of record on November 17, 2022, with an ex-dividend date of November 16, 2022.
Microsoft also announced the date for the 2022 Annual Shareholders Meeting, to be held Dec. 13, 2022. Shareholders at the close of business on Oct. 12, 2022, the record date, will be entitled to vote their shares.
The company has grown its dividend every year for the past 12 years and the quarterly dividend is up 8.5 fold from its first dividend of $0.08 per share in FY2004.