Microsoft boosts S&P 500 with 2.5% rise on new $60 billion buyback plan, quarterly dividend hiked by 10%

Microsoft Corp. announced a 10 per cent increase in its quarterly dividend and introduced a new $60 billion stock buyback program, matching the scale of its repurchase plan from three years ago. The company’s shares rose by up to 2.4 per cent following the news.

In a statement late Monday, the tech giant revealed that shareholders as of November 21 will receive a quarterly dividend of 83 cents per share, up from the current 75 cents. The new share repurchase program, which has no expiration date, replaces the $60 billion buyback plan announced in 2021.