The tech behemoth said it has authorized a $40 billion share buyback program, according to a release from the firm.
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The company has also established a track record of buying back its own shares, a tactic used to boost the price of the remaining stock, improve earnings per share and return cash to investors.
The company also said it was on track to complete its current $40 billion stock repurchase programme by December 31. The new share repurchase program, which has no expiration date, may be terminated at any time.
The multinational technology company headquartered in Redmond, the state of Washington, said in a posting on its website that its board of directors had approved a program authorizing the share repurchase.
This year’s increase raises Microsoft’s dividend yield to 2.7% from 2.3%. Visit MarketWatch.com for more information on this news.
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Shares of Microsoft rose 1.1% in the late session after ending the regular trading day down 0.2%.
