Microsoft Corp. this week announced the largest share buyback in its history, totaling $60 billion, and also increased its quarterly dividend by 10%. All investors who hold Microsoft shares as of November 21 of this year will be able to apply for them.
The dividend will increase from 75 to 83 cents per share. In the case of a share repurchase program, things are not so straightforward. In fact, the corporation simply replaced the previous repurchase program for the same amount of $60 billion, which was announced in 2021, with a new one that does not provide an end date. The company, which is a major investor in OpenAI and one of the main beneficiaries of the artificial intelligence boom, is second only to Apple in its capitalization, and by a modest $82 billion.
Since the beginning of the year, Microsoft shares have risen in price by 31%, news of the upcoming buyout raised their value after the close of trading by another 1% at most. They finished the main trading session yesterday at $431.34 per share. As of June 30 of this year, the corporation had $75.5 billion of available funds in cash and in the form of highly liquid assets. Free cash flow for the quarter increased year-on-year by 18% to $23.3 billion. According to company representatives, it is now actively investing in the development of cloud infrastructure and artificial intelligence systems.
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