MS to Buy Back Shares Worth 70 Trillion Won... Also Increasing Quarterly Dividends

[Image source=Yonhap News]

[Asia Economy Reporter Kwon Jae-hee] Microsoft (MS) announced a plan to repurchase up to $60 billion (approximately 70.26 trillion KRW) of its own shares, Bloomberg reported on the 14th (local time).

However, MS did not specify a concrete deadline for the share repurchase.

This share repurchase plan exceeds the $40 billion announced in September 2019.

MS also decided to increase its quarterly dividend by 6 cents from the previous quarter to 62 cents.

Additionally, MS announced the appointment of Brad Smith, the current President and Chief Legal Officer (CLO), as Vice Chairman.

Bloomberg noted that in MS's case, the Vice Chairman is not a board member, and Smith will continue to report directly to Satya Nadella, CEO and Chairman of the Board.