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Microsoft to raise dividend

By Aaron Smith, staff writer

NEW YORK (CNNMoney.com) -- Microsoft Corp. is ramping up its dividend for the first time in two years as it prepared to borrow billions of dollars.

Microsoft said late Tuesday that its board of directors agreed on a quarterly dividend of 16 cents per share, an increase of 3 cents or 23% over the prior quarter's dividend. The dividend is payable Dec. 9 to holders of record on Nov. 18.

"The higher dividend, combined with our ongoing share repurchase program, reflects our commitment to returning capital to our shareholders and our confidence in the long-term growth of the company," said Microsoft Chief Executive Peter Klein, in a press release.

The software giant also said that its board of directors authorized $6 billion worth of commercial paper and long-term debt.

Microsoft's (MSFT, Fortune 500) stock barely budged in pre-market trading. To top of page

Index Last Change % Change
Dow 17,761.15 -37.34 -0.21%
Nasdaq 5,104.42 -23.11 -0.45%
S&P 500 2,085.49 -4.62 -0.22%
Treasuries 2.22 -0.01 -0.36%
Data as of 12:47pm ET
Company Price Change % Change
General Electric Co 30.24 -0.12 -0.40%
Bank of America Corp... 17.48 -0.00 -0.03%
Microsoft Corp 54.21 0.28 0.52%
Apple Inc 118.53 0.72 0.61%
Freeport-McMoRan Inc... 8.34 0.24 2.90%
Data as of 12:32pm ET


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