• $
  • £

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 aims to boost meat self-sufficiency through livestock development
Business 18:00
Azerbaijan aims to boost meat self-sufficiency through livestock development
Shah Deniz gas output stands at 27 bcm a year
Business 17:30
Shah Deniz gas output stands at 27 bcm a year
Azerbaijan expects agricultural exports to rise 33% by 2030 under new state programme
Business 17:00
Azerbaijan expects agricultural exports to rise 33% by 2030 under new state programme
Faster access to the ABB Home platform with Mygov ID!
Business 16:49
Faster access to the ABB Home platform with Mygov ID!
First loan at Yelo Bank: commission-free and discounted!
Business 15:33
First loan at Yelo Bank: commission-free and discounted!
Azerbaijan to export 42 railcars of diesel fuel to Armenia
Business 15:00
Azerbaijan to export 42 railcars of diesel fuel to Armenia
Egypt invites SOCAR to expand its presence in its market
Business 13:30
Egypt invites SOCAR to expand its presence in its market

Bitcoin price drops below $65,000
Business 10:30
Bitcoin price drops below $65,000
Azeri Light crude oil price rises on world markets
Business 09:30
Azeri Light crude oil price rises on world markets
Anews TV

Our official Youtube channel

Subscribe