• $
  • £

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 central bank cites external factors and demand as main inflation drivers
Business 17:27
Azerbaijan central bank cites external factors and demand as main inflation drivers
Azerbaijan Airlines adds flights to Istanbul and Tbilisi
Business 17:00
Azerbaijan Airlines adds flights to Istanbul and Tbilisi
Five-star Baku Resort & Spa opens on Issyk-Kul shore
Business 16:30
Five-star Baku Resort & Spa opens on Issyk-Kul shore
TuranBank Launches Preferential Loans Financed by the Energy Efficiency Fund
Business 16:26
TuranBank Launches Preferential Loans Financed by the Energy Efficiency Fund
AzInTelecom cloud service users rise to 247
Business 15:59
AzInTelecom cloud service users rise to 247
Azerbaijan central bank forecasts 0.5% GDP growth in 2026
Business 15:30
Azerbaijan central bank forecasts 0.5% GDP growth in 2026
Azerbaijan’s gas exports to EU rise 56% since 2021
Business 14:57
Azerbaijan’s gas exports to EU rise 56% since 2021
bp and partners invest over $89 billion in Azerbaijan projects
Business 14:36
bp and partners invest over $89 billion in Azerbaijan projects
Appeal hearing for TikToker Arzum 9999 postponed until August 7
Business 14:00
Appeal hearing for TikToker Arzum 9999 postponed until August 7
Anews TV

Our official Youtube channel

Subscribe