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Microsoft to buy back up to $60 billion in shares; names Brad Smith 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.

September 15, 2021 / 07:33 AM IST
The survey was conducted among more than 160,000 of Microsoft's 180,000 employees across 100 countries.

The survey was conducted among more than 160,000 of Microsoft's 180,000 employees across 100 countries.

Microsoft Corp on Tuesday said it will conduct an up to $60 billion share buyback program, raise its quarterly dividend by 11%, 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.

The U.S. technology giant also called the vice chair position an updated executive role for Smith, who currently leads a team of over 1,500 staff in 54 countries, according to his biography on Microsoft’s website.

Smith joined Microsoft in 1993 from law firm Covington & Burling to run corporate and legal affairs operations in Europe. He became general counsel in 2002 and, over the next decade, handled the resolution of antitrust cases, the biography showed.

Smith will continue to report to Chief Executive Officer Satya Nadella, Microsoft said.
Reuters
first published: Sep 15, 2021 07:34 am

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