Microsoft Corporation (NASDAQ: MSFT) announced a new $40 billion stock buyback plan on Tuesday. Shares gained following the announcement. The Company’s previous share repurchase program will expire on Sept. 30. Separately, the tech giant lifted its quarterly dividend by 22% to 28 cents. The dividend will be payable on November 21, the company said. Commenting over the share repurchase program, Microsoft’s Chief financial officer, Amy Hood said in a statement, “These actions reflect a continued commitment to returning cash to our shareholders.”
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