Microsoft stock managed to rally significantly today. The reason is obvious! That’s because Microsoft is increasing its dividend and buying back its own shares. So Microsoft is returning more money to its shareholders. A great signal for all investors.
The software company increased its quarterly dividend and announced a new share buyback program. Microsoft said the board approved an 11 percent increase in its quarterly dividend to 62 cents. Shareholders can also look forward to a $60 billion share buyback program.
The Board also appointed Brad Smith as Vice Chairman in addition to his role as President.
Microsoft shares are gaining 1.68 percent at times to $304.82 in NASDAQ trading.
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