Microsoft Announces $40 Billion in Buybacks, 5-Cent Dividend Hike and 2 Heavily Traded Stocks to Follow
Microsoft Corp. (NASDAQ:MSFT): Current price $33.32
Microsoft has authorized the repurchase of shares worth as much as $40 billion during its fiscal year 2013. The new program supplants the previous one set to expire on September 30 and has no expiry date. What is more, the firm announced its decision to increase the quarterly dividend by 5 cents to 28 cents per share, representing a 22-percent rise from the previous dividend. The 28-cent dividend will be paid on December 12 to stockholders of record as of November 21.