Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

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

Search for Jobs

Index Last Change % Change
Dow 18,162.35 -40.27 -0.22%
Nasdaq 5,241.83 -4.58 -0.09%
S&P 500 2,141.34 -2.95 -0.14%
Treasuries 1.75 -0.01 -0.29%
Data as of 7:34am ET
Company Price Change % Change
Chesapeake Energy Co... 6.91 0.19 2.83%
Bank of America Corp... 16.56 0.09 0.55%
eBay Inc 29.02 -3.50 -10.76%
Microsoft Corp 57.25 -0.28 -0.49%
Freeport-McMoRan Inc... 10.21 0.19 1.90%
Data as of Oct 20


British American Tobacco has announced a $47 billion bid to take control of fellow cigarette giant Reynolds. More

A new report says that economic development officials seeking to revive underpopulated urban neighborhoods may be overlooking a promising population to help renovate distressed housing: immigrants. More

The University of Illinois partnered with Coursera to launch one of the most affordable online MBA programs yet. More