Microsoft to Buy Back up to $60 Billion in Shares; Names Brad Smith Vice Chair

Microsoft to Buy Back up to $60 Billion in Shares; Names Brad Smith Vice Chair
People walk near a Microsoft office in New York on Nov. 10, 2016. Swayne B. Hall/AP Photo
Reuters
Updated:

Microsoft Corp. on Tuesday said it will conduct an up to $60 billion share buyback program, raise its quarterly dividend by 11 percent, and appoint company President Brad Smith as vice chair.

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.