Advertisement
Canada markets open in 8 hours 7 minutes

  • S&P/TSX

    21,885.38
    +11.66 (+0.05%)
     

  • S&P 500

    5,048.42
    -23.21 (-0.46%)
     

  • DOW

    38,085.80
    -375.12 (-0.98%)
     

  • CAD/USD

    0.7326
    +0.0003 (+0.04%)
     

  • CRUDE OIL

    83.88
    +0.31 (+0.37%)
     

  • Bitcoin CAD

    87,660.38
    +106.87 (+0.12%)
     

  • CMC Crypto 200

    1,384.40
    +1.83 (+0.13%)
     

  • GOLD FUTURES

    2,347.50
    +5.00 (+0.21%)
     

  • RUSSELL 2000

    1,981.12
    -14.31 (-0.72%)
     

  • 10-Yr Bond

    4.7060
    +0.0540 (+1.16%)
     

  • NASDAQ futures

    17,761.25
    +193.75 (+1.10%)
     

  • VOLATILITY

    15.37
    -0.60 (-3.76%)
     

  • FTSE

    8,078.86
    +38.48 (+0.48%)
     

  • NIKKEI 225

    38,038.27
    +409.79 (+1.09%)
     

  • CAD/EUR

    0.6829
    +0.0008 (+0.12%)
     

Microsoft raises dividend, plans $40 billion share buyback

Reuters
The logo of Microsoft is pictured in Issy-les-Moulineaux, France, August 8, 2016. REUTERS/Jacky Naegelen

(Reuters) - Microsoft Corp on Tuesday raised its quarterly dividend by 8 percent and said it would buy back up to $40 billion as part of a new share repurchase program.

The company raised its dividend to 39 cents per share, up 3 cents from the previous quarter.

The technology giant last raised its dividend in September last year.

The new buyback program has no expiration date and may be terminated at any time, the company said on Tuesday.

The company also said it was on track to complete its current $40 billion stock repurchase program by Dec. 31.

Microsoft's shares were up 1 percent at $57.41 in extended trading on Tuesday.

(Reporting by Narottam Medhora in Bengaluru; Editing by Shounak Dasgupta)