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

Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Index Last Change % Change
Dow 17,256.07 64.70 0.38%
Nasdaq 4,630.55 -7.44 -0.16%
S&P 500 2,003.55 1.39 0.07%
Treasuries 1.75 0.03 1.68%
Data as of 1:18pm ET
Company Price Change % Change
Yahoo! Inc 43.02 -3.44 -7.40%
Bank of America Corp... 15.35 0.15 0.99%
Apple Inc 117.17 1.86 1.61%
Facebook Inc 76.49 0.25 0.33%
Microsoft Corp 41.24 0.05 0.11%
Data as of 1:06pm ET

Sections

The Wednesday announcement that Don Thompson will retire as CEO of McDonald's leaves just two black CEOs in the elite Dow 30. More

The Wednesday announcement that Don Thompson will retire as CEO of McDonald's leaves just two black CEOs in the elite Dow 30. More

On demand delivery startup WunWun is expecting its order volume to double by the time they close up shop on Monday. All thanks to a blizzard. More

The IRS said it has carried out thousands of audits of offshore schemes and pursued criminal charges that have resulted in "billions of dollars in criminal fines and restitutions." And it won't stop there. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer.

Morningstar: © 2015 Morningstar, Inc. All Rights Reserved.

Factset: FactSet Research Systems Inc. 2015. All rights reserved.

Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved.

Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor’s Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2015 and/or its affiliates.