• $
  • £

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 to regulate duty-free shops under customs code changes
Business 17:30
Azerbaijan to regulate duty-free shops under customs code changes
ADB puts Baku metro, rail and green energy among priorities for Azerbaijan
Business 17:00
ADB puts Baku metro, rail and green energy among priorities for Azerbaijan
ACG oil output falls as costs rise in first quarter, BP says
Business 16:30
ACG oil output falls as costs rise in first quarter, BP says
Get Your Tender Guarantee Fully Online via Yelo Internet Banking!
Business 15:37
Get Your Tender Guarantee Fully Online via Yelo Internet Banking!
Second stage of seismic surveys begins at Karabakh field
Business 15:30
Second stage of seismic surveys begins at Karabakh field
BP says gas and condensate output at Shah Deniz remains stable
Business 15:00
BP says gas and condensate output at Shah Deniz remains stable
Azeri Light remains above Azerbaijan’s budget benchmark
Business 14:30
Azeri Light remains above Azerbaijan’s budget benchmark
A new chapter in digital transformation at YeloBank
Business 12:47
A new chapter in digital transformation at YeloBank
Brent oil price exceeds $111
Business 12:00
Brent oil price exceeds $111
Anews TV

Our official Youtube channel

Subscribe