Wednesday 20 October 2021

Microsoft announces $60bn share buyback scheme

WASHINGTON, September 15, 2021

Microsoft’s board of directors have approved a new share repurchase programme authorizing up to $60 billion in share repurchases, noting  that that the programme has expiration date and may be terminated at any time.

The board of directors also declared a quarterly dividend of $0.62 per share, reflecting a 6 cent or 11% increase over the previous quarter’s dividend. The dividend is payable December 9, 2021, to shareholders of record on November 18, 2021.

The board approved the appointment of Brad Smith as president and vice chair of Microsoft.

“This reflects the unique leadership role that Brad plays for the company, our board of directors and me, with governments and other external stakeholders around the world,” said Satya Nadella, chairman and chief executive officer of Microsoft.

This is an updated executive role for Smith who will continue to report to Nadella.

In addition, the company announced the date for the 2021 Annual Shareholders Meeting, to be held on November 30, 2021. – TradeArabia News Service


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