Microsoft says it is starting a $60 billion share repurchase program, and also revealed a quarterly dividend of $0.62 per share. According to the company’s board of directors, this represents an 11% increase over dividends in the previous quarter, or 6 cents.
As for the share repurchase program, Microsoft has not put a date on the initiative, so it could be ended at any time without much notice.
Furthermore, Microsoft president and chief counsel, Brad Smith, is the new vice chair of Microsoft. In a statement, CEO Satya Nadella says Smith’s promotion reflects his leadership commitment to the company:
“This reflects the unique leadership role that Brad plays for the company, our board of directors and me, with governments and other external stakeholders around the world,” said Satya Nadella, chairman and chief executive officer of Microsoft.
Microsoft has also scheduled its Annual Shareholders Meeting for 2021, which will happen on November 30, 2021. All shareholders who close businesses on the record date of September 30, 2021, can vote their shares.
“This year’s annual shareholders meeting will be held virtually and hosted by Satya Nadella, chairman and chief executive officer; Amy Hood, chief financial officer; Brad Smith, president and vice chair; and John W. Thompson, Microsoft lead independent director.”
Microsoft is currently thriving under the stewardship of CEO Satya Nadella. His cloud first strategy has propelled the company to new heights. While still struggling to make significant inroads into the consumer market, Nadella has steered Microsoft to massive success in cloud and enterprise.
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