• $
  • £

Microsoft launches $40bn share buyback

Microsoft launches $40bn share buyback
21.09.2016 19:01
US software giant Microsoft plans to buy back $40bn worth of its shares.

The firm did not say how long the repurchase scheme would last. Its previous buyback, also worth $40bn, was announced in September 2013 and is due to be completed by the end of the year.

Share buybacks tend to support a company's share price and are popular with investors.

Microsoft also announced that it was raising its quarterly dividend by 8%, to 39 cents a share.

Microsoft shares rose 1% in after-hours trading.

Big deal

Earlier this year Microsoft announced its biggest ever acquisition - the purchase of the professional networking website LinkedIn - for just over $26bn (£18bn) in cash.

That was considered a high price for LinkedIn, which reported an annual loss of $166m.

Microsoft chief executive Satya Nadella said it was part of Microsoft's transformation into a cloud computing business, providing a range of professional services to clients - including a social network to connect them to each other.

(BBC)

www.ann.az
Similar news
Similar news
Azerbaijan’s central bank issues redesigned 100-manat banknote
Business 17:00
Azerbaijan’s central bank issues redesigned 100-manat banknote
Azerbaijan and Slovakia to cooperate in standardisation and metrology
Business 16:00
Azerbaijan and Slovakia to cooperate in standardisation and metrology
Azerbaijan’s banks spend 23.8 mln manats on government data access
Business 15:29
Azerbaijan’s banks spend 23.8 mln manats on government data access
ABB’s first-half net profit rises to 250.6 million manats
Business 15:00
ABB’s first-half net profit rises to 250.6 million manats
International airport at Alat Free Economic Zone expected to open by mid-2027
Business 14:00
International airport at Alat Free Economic Zone expected to open by mid-2027
Kapital Bank announces financial results for the second quarter of 2026
Business 13:01
Kapital Bank announces financial results for the second quarter of 2026
Azerbaijan expects direct Baku-Bratislava flights to launch soon, economy minister says
Business 13:00
Azerbaijan expects direct Baku-Bratislava flights to launch soon, economy minister says
Azerbaijan exports oil to around 20 countries, energy minister says
Business 12:30
Azerbaijan exports oil to around 20 countries, energy minister says
Azerbaijan has helped stabilize global oil market through OPEC+ for nearly a decade, minister says
Business 12:00
Azerbaijan has helped stabilize global oil market through OPEC+ for nearly a decade, minister says
Anews TV

Our official Youtube channel

Subscribe