FINANCE

Microsoft Announces $60 Billion Buyback, 10% Dividend Hike


Microsoft (MSFT) announced late Monday that it will buy back up to $60 billion of its stock and hiked its quarterly dividend by 10%. MSFT stock rose slightly early Tuesday.





X



NOW PLAYING
Stocks Hit Pause Button As Fed Looms; Mr. Cooper, The Bancorp, Vistra In Focus



The Dow tech giant said its new repurchase program can be cancelled at any time. While $60 billion is a big number, it’s less than 1.9% of Microsoft stock’s $3.206 trillion valuation.

Microsoft also will increase its quarterly dividend by 8 cents, to 83 cents a share. It’s the company’s 20th straight year of increasing its dividend.

Microsoft stock rose 1.8% in premarket action. Shares edged up 0.2% to 431.34 on Monday. MSFT stock has risen for six straight sessions, retaking all its moving averages and topping a 426.79 short-term high.

Microsoft has a 268.35 cup-base buy point. But the software leader is actionable as an IBD Long-Term Leader.

Please follow Ed Carson on Threads at @edcarson1971 and X/Twitter at @IBD_ECarson for stock market updates and more.

YOU MAY ALSO LIKE:

Why This IBD Tool Simplifies The Search For Top Stocks

Catch The Next Big Winning Stock With MarketSmith

Want To Get Quick Profits And Avoid Big Losses? Try SwingTrader

Best Growth Stocks To Buy And Watch

IBD Digital: Unlock IBD’s Premium Stock Lists, Tools And Analysis Today

Dow Giant Leads S&P 500, And Keeps Running Late; Apple Chipmakers Plunge





Source link

Related Articles

Back to top button