Microsoft (MSFT) this afternoon said its board has approved an increase in the company’s quarterly dividend rate to 16 cents, from 13 cents, an increase of 23%. The first payment at the new rate will be December 9, the holders of record November 18. The increase boosts the yield on MSFT shares to 2.5%, from 2.1%.
The company also said its board has authorized the issuance of up to $6 billion in additional commercial paper and long-term debt.
In a statement, CFO Peter Klein said that “the higher dividend, combined with our ongoing share repurchase program, reflects our commitment to returning capital to our shareholders and our confidence in the long-term growth of the company.”
The company noted that over the last 10 years through June 30 it has returned almost $170 billion to holders through dividends and buybacks.
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