© Reuters. FILE PHOTO: A Microsoft logo is seen in Los Angeles, California, the United States, June 14, 2016. REUTERS / Lucy Nicholson / File Photo
(Reuters) -Microsoft Corp said Tuesday its board of directors approved a new share buyback program of up to $ 60 billion while increasing its quarterly dividend by 11%.
The new dividend of $ 0.62 per share is a 6 cents increase over the previous quarter's dividend.
Microsoft (NASDAQ 🙂 said the share buyback program, which has no expiration date, can be terminated at any time.
The company's board of directors also approved the appointment of Brad Smith as president and vice chairman of Microsoft.
While Smith is already serving as president of the company, Microsoft said the vice-chairmanship is an updated leadership role for him.
Disclaimer: Fusion Media would like to remind you that the information contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indices, futures) and forex prices are not provided by exchanges, but by market makers. Therefore, prices may not be accurate and may differ from the actual market price, meaning that prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading losses you may incur as a result of using this information.
Fusion Media, or anyone involved in Fusion Media, assumes no liability for any loss or damage resulting from reliance on the information contained on this website, including data, prices, charts, and buy / sell signals. Please inform yourself comprehensively about the risks and costs associated with trading in the financial markets, as it is one of the riskiest forms of investment.