Microsoft plans new $60 billion buyback, raises quarterly dividend 10%

Microsoft Corp. raised its quarterly dividend 10% and unveiled a new $60 billion stock-buyback program, matching the size of a repurchase plan three years ago. The company’s shares gained as much as 2.4%.

The software company said late Monday that 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 buyback program announced in 2021 that was also $60 billion.