Microsoft announces $40 billion buyback

SAN FRANCISCO — Microsoft said it would buy back up to $40 billion stock and boost its dividend to 39 cents from 36 cents.

The announcements pushed shares up 1% to $57.39 in after-hours trading.

This is the second $40 billion buyback program for the technology giant. Microsoft said it would complete the current buyback program by year's end.

The dividend increase is 8%. The dividend is payable Dec. 8 to shareholders of record on Nov. 17.

Microsoft also announced it will hold its annual shareholders meeting on Nov. 30.


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