Microsoft announces $60 billion stock buyback and 10% dividend increase

The share repurchase agreement, which has no expiration date, replaces a $60 billion buyback program announced in 2021.

Microsoft Corp. unveiled a new $60 billion stock-buyback program, matching its largest-ever repurchase authorization, and raised its quarterly dividend 10%,

The software company said shareholders as of Nov. 21 will receive a quarterly dividend of 83 cents a share, compared with the current 75 cents. The share repurchase agreement, which has no expiration date, replaces a $60 billion buyback program announced in 2021.

The shares of the Redmond, Washington-based company have gained 31% in the past year.