Microsoft Corp. has announced its plans to buy back up to $40 billion in stock and boost its dividend by 8%, the latest in a series of moves by the software giant to share a steady flood of cash with shareholders.
The latest repurchase target is the same size as a buyback plan announced in 2013, which the company said Tuesday it expects to complete by the end of this year.
Microsoft didn’t set an expiration date for the new buyback, which represents about 9% of Microsoft’s market value of $442.7 billion. The company has been among most active in buying back shares, having spent nearly $140 billion on the tactic over the years.
Microsoft also announced it will hold its annual shareholders meeting on Nov. 30.