Microsoft announces a plan to increase returns for shareholders, with the company’s board approving a $60 billion share buyback plan. This plan replaces the previously announced buyback program from 2021. The new buyback plan does not have a specified end date and Microsoft reserves the right to cancel the plan at any time.
Additionally, the board has approved a dividend increase, raising the quarterly dividend from $0.75 to $0.83 per share, a 10% increase. This increase will take effect on December 12, 2024, for shareholders as of November 21, 2024.
Currently, Microsoft holds cash and cash equivalents on its balance sheet totaling $75.5 billion, with free cash flow in the past quarter amounting to $23.3 billion.
Source: Bloomberg and Microsoft
TLDR: Microsoft announces a $60 billion share buyback plan and a dividend increase to $0.83 per share.
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