Microsoft approves new $60 billion share buyback program
Microsoft said on Monday its board has approved a new share buy back program of up to $60 billion.
The tech giant declared a quarterly dividend of $0.83 per share, reflecting an 8 cent, or 10%, increase over the previous quarter.
Microsoft said it will hold its annual shareholders meeting on Dec. 10.
In July, the company said it will spend more this fiscal year on AI infrastructure. It reported a 77.6% rise in capital spending in the quarter ended June 30, largely due to AI-related expenses.
The company reported a slowdown in growth at its Azure cloud business in the reported quarter but said growth would accelerate in the second half of fiscal 2025.
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