Microsoft increases quarterly dividend and announces a $60 billion share repurchase program

Microsoft yesterday announced a quarterly dividend of $0.83 per share, an 8-cent or 10% increase over the previous quarter’s dividend of $0.75 per share. Microsoft's board of directors declared that the increased quarterly dividend is payable on December 12, 2024, to shareholders of record on November 21, 2024. The ex-dividend date will be November 21, 2024.

In addition to the increased quarterly dividend, Microsoft's board of directors also approved a massive share repurchase program of up to $60 billion. Unlike previous share repurchase programs from Microsoft, this new program has no expiration date and may be terminated at any time.

In 2019, Microsoft's Board of Directors approved a share repurchase program authorizing up to $40 billion in share repurchases. After completing this program in 2021, the Board approved a new share repurchase program in September 2021, authorizing up to $60 billion in share repurchases. With the announcement of this new $60 billion share repurchase program yesterday, Microsoft's total share repurchase program has reached $160 billion over the past 5 years.

Furthermore, Microsoft announced that its 2024 Annual Shareholders Meeting will be held on December 10, 2024. Microsoft stockholders of record at the close of business on September 30, 2024, will be eligible to vote during the meeting.

As expected, the 2024 Annual Shareholders Meeting will be held virtually and hosted by Satya Nadella (chairman and CEO of Microsoft), Amy Hood (executive vice president and chief financial officer), Brad Smith (vice chair and president), and Sandra E.Peterson (Microsoft's lead independent director).

Microsoft's above announcements signal a strong commitment to returning value to shareholders. The combination of an increased quarterly dividend and a substantial, open-ended share repurchase program demonstrates the company's confidence in its financial position and future growth prospects. These actions, alongside the details of the upcoming Annual Shareholders Meeting, highlight Microsoft's focus on transparency and engagement with its investors.

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