Microsoft announces share buyback of up to $60 billion, ups dividend By Reuters

© Reuters. FILE PHOTO: A Microsoft brand is seen in Los Angeles, California, U.S. June 14, 2016. REUTERS/Lucy Nicholson/File Photo

(Reuters) -Microsoft Corp mentioned on Tuesday its board had licensed a brand new share buyback program of up to $60 billion, whereas additionally elevating the quarterly dividend by 11%.

The new dividend of $0.62 per share is a rise of 6 cents over the earlier quarter’s dividend.

Microsoft (NASDAQ:) mentioned the share buyback program, which has no expiration date, could also be terminated at any time.

The firm’s board additionally authorized the appointment of Brad Smith as president and vice chair of Microsoft.

While Smith already serves because the president of firm, Microsoft mentioned that vice chair was an up to date government function for him.

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