Microsoft hikes dividend by 10%, approves $60 bln share buyback program

Investing.com-- Microsoft said on Monday that its board had approved a new share buyback program worth up to $60 billion, and that the tech giant had also raised its quarterly dividend.

Microsoft Corporation (NASDAQ: MSFT) declared a quarterly dividend of $0.83 per share, up 10% from the prior quarter.

Shares of the Redmond, Washington-based tech giant rose 0.6% in aftermarket trade.

The firm had clocked strong quarterly earnings in July, although this was offset by a substantial increase in capital expenditures, as the company said it will spend more on artificial intelligence.

Revenue from its Azure cloud business- which reflects returns from AI- had slowed during the quarter, although Microsoft said growth will pick up later in 2025.

The company, along with its big tech peers, is racing to justify the billions of dollars invested in AI over the past year. Most of Microsoft’s peers are yet to show a substantial return on their investments in AI.

Microsoft said on Monday it will hold its annual shareholders meeting on December 10.

You May Also Be Interested In

• Chevron signs 20-year power deal with Microsoft for West Texas
• Dutch Bros Inc. (BROS) PT Raised to $90 at DA Davidson on Sales/Earnings Upside
• Chevron Signs 20-Year Power Agreement with Microsoft for West Texas Data Center