Subj : Microsoft announces biggest-ever share buyback scheme to help boo
To   : All
From : TechnologyDaily
Date : Wed Sep 18 2024 13:45:05

Microsoft announces biggest-ever share buyback scheme to help boost investment

Date:
Wed, 18 Sep 2024 12:43:00 +0000

Description:
The agreement is less than 2% of Microsofts current market Value.

FULL STORY
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Tech giant Microsoft revealed that its board of directors approved a new $60 
billion stock-buyback program. The repurchase program has no expiration date 
and may be terminated at any time, according to the companys statement. 

The board also outlined a quaterly dividend of $0.83 per share, which 
reflects a 10% rise over the previous quarter. Shares for the company gained 
31% in the last 12 months, bringing its market value to $3.2 trillion. 

A partnership with OpenAI and investments into cloud technologies has ushered 
in a new era for the corporation, seemingly one met with optimism and 
confidence. The company is reported to have $75.5 billion in cash and 
equivalents as of June 30th, with free cash flow of $23.3 billion in the 
fiscal fourth quarter, up 18% year-over-year reflecting higher capital 
expenditures to support our cloud and AI offerings. More investments to come 

AI infrastructure is set to secure more investments in the near future, with 
the company already reporting a 77% rise in capital spending largely due to 
AI related endeavors. 

Tech giants are facing huge pressure to produce returns from the recent AI, 
with Microsoft being one of the few companies to do so. Microsoft surpassed 
the $3 trillion market value mark, and is the second company to ever reach 
this level. 

AI is certainly emerging as a driving force behind Microsoft's success, 
especially after the company integrated generative AI into a lot of core 
products, including its dedicated chatbot, Copilot. The projections are 
incredibly promising for the company, which could be set to take the title of 
the world's most valuable company from its current #2 spot. 

Via Bloomberg More from TechRadar Pro Check out our pick of the best free 
office software It's official - Copilot is taking over Microsoft 365 Take a 
look at our best endpoint security choices



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Link to news story:
https://www.techradar.com/pro/microsoft-announces-biggest-ever-share-buyback-s
cheme-to-help-boost-investment


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