Wednesday, 22 September 2021 04:43 GMT

Microsoft to buy back up to $60 bln in shares


(MENAFN- Trend News Agency ) Microsoft Corp on Tuesday said it will conduct an up to $60 billion share buyback program, raise its quarterly dividend by 11%, and appoint company President Brad Smith as vice chair, Trend reports with reference to Reuters .

Microsoft said the buyback program has no expiration date and may be terminated at any time, and that it would pay a dividend of $0.62 per share - 6 cents over the previous quarter.

The U.S. technology giant also called the vice chair position an updated executive role for Smith, who currently leads a team of over 1,500 staff in 54 countries, according to his biography on Microsoft's website.

Smith joined Microsoft in 1993 from law firm Covington & Burling to run corporate and legal affairs operations in Europe. He became general counsel in 2002 and, over the next decade, handled the resolution of antitrust cases, the biography showed.

Smith will continue to report to Chief Executive Officer Satya Nadella, Microsoft said.

MENAFN15092021000187011040ID1102801563


Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.