15 Sep 2021 06:54AM
(Updated: 15 Sep 2021 07:39AM)
:Microsoft Corp said on Tuesday its board had authorized a new share buyback program of up to US$60 billion, while also raising the quarterly dividend by 11per cent.
The new dividend of US$0.62 per share is an increase of 6 cents over the previous quarter’s dividend.
Microsoft said the share buyback program, which has no expiration date, may be terminated at any time.
The company’s board also approved the appointment of Brad Smith as president and vice chair of Microsoft.
While Smith already serves as the president of company, Microsoft said that vice chair was an updated executive role for him.
(Reporting by Shubham Kalia in Bengaluru; Editing by Anil D’Silva)