U.S. technology giant Microsoft said Tuesday it would launch a $40 billion stock repurchasing plan to replace a $40 billion program set to end Sept. 30.
The new repurchasing program has no expiration date, the company said.
The company also said it would add 5 cents to its quarterly dividend. At 28 cents per share, the dividend for the quarter is a 22 percent increase over the first quarter's dividend, Microsoft said.
"These actions reflect a continued commitment to returning cash to our shareholders," said Amy Hood, the company's chief financial officer.
Copyright 2013 United Press International, Inc. (UPI). Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Original headline: Microsoft launches new $40 billion repurchasing, raises dividend
Most Popular Stories
- 15 Myths That Could Ruin Your Hispanic Ad Campaign
- Bitcoin Clones Lurch Onto Financial Scene
- General Motors Names Mary Barra as First Female CEO
- AIG to Create 230 Jobs in Charlotte
- Clinton to Keynote Annual Simmons Leadership Conference
- How Bitcoin and Other Cryptocurrencies Work
- Californians Want to Legalize Marijuana
- Pacific Trade Pact Delay Hinders U.S. Pivot to Asia
- Russia Says Nyet to Canada North Pole Claim
- Budget Deal Sets Off Grumbles in Both Houses