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Microsoft starts off the day with a $40 billion share buyback program

Microsoft announces new massive share buyback program to the tune of $40 billion, raises quarterly dividend by 22 percent (NASDAQ:MSFT)

| Business, Financial & Legal News | Posted: Sep 17, 2013 7:03 pm

Early this morning just before Wall Street opened for trading, Microsoft announced that it would be buying back $40 billion of its own stock as well as increasing its quarterly dividend by 22 percent. This announcement comes on the heels of the company's previous $40 billion buyback program that will expire at the end of this month.

 

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Microsoft said that its quarterly dividend will rise to $0.28 per share, which is up from the $0.23 per share it paid last quarter. Unlike the last buyback initiative, there is no expiration date for the new program, which means the buyback could take a while to complete. Shortly after the announcement, Microsoft stock opened about $0.60 per share higher than at closing on Monday at about $32.75 per share. At the time of this writing, it is down to about $33 per share, which is an increase of 0.7 percent over its closing numbers Monday, and is actually lower than what the stock closed at on Friday.

NEWS SOURCES:Techcrunch.com

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