• $
  • £

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
Gold price slips towards $4,000 an ounce
Business 16:30
Gold price slips towards $4,000 an ounce
Bir Partners with UnionPay, Strengthening Azerbaijan’s Global Payments Connectivity
Business 16:10
Bir Partners with UnionPay, Strengthening Azerbaijan’s Global Payments Connectivity
Kapital Bank and ABB lead Azerbaijan’s banks by interest income
Business 15:30
Kapital Bank and ABB lead Azerbaijan’s banks by interest income
China’s H1 Russian oil imports rise 16.7% y/y
Business 13:30
China’s H1 Russian oil imports rise 16.7% y/y
Moody’s completes periodic review of SOCAR ratings
Business 13:00
Moody’s completes periodic review of SOCAR ratings
Oil jumps as U.S.-Iran tensions escalate
Business 12:30
Oil jumps as U.S.-Iran tensions escalate
Azerbaijan keeps official dollar exchange rate unchanged
Business 12:00
Azerbaijan keeps official dollar exchange rate unchanged
A new digital banking experience for children from ABB Bank
Business 11:49
A new digital banking experience for children from ABB Bank
Commission-free cash withdrawal campaign on Yelo installment cards!
Business 10:35
Commission-free cash withdrawal campaign on Yelo installment cards!
Anews TV

Our official Youtube channel

Subscribe