Microsoft Corporation (MSFT.US) announced a 10% increase in dividends and plans to repurchase up to $600 billion worth of stocks.

Microsoft Corporation (MSFT.US) has announced a new $600 billion stock buyback plan, which is the largest buyback authorization in its history, and has increased its quarterly dividend by 10%. The software company stated that it will raise its quarterly dividend to 83 cents per share from 75 cents per share for shareholders as of November 21. The dividend will be paid on December 12, 2024 to shareholders of record as of November 21, 2024. The ex-dividend date will be November 21, 2024. The board also approved authorization for a stock buyback of up to $600 billion, with no expiration date for the buyback agreement. In recent years, as the world's second largest company by market value, Microsoft Corporation has benefited from the market's enthusiasm for artificial intelligence. The software manufacturer has integrated artificial intelligence technology from partner OpenAI into its product line, stating that these tools can enhance its business applications such as Teams, Word, and Outlook. Microsoft Corporation earlier on Monday released a series of new artificial intelligence tools. As of June 30, Microsoft Corporation had $755 billion in cash and equivalents. The company stated in July that free cash flow for the fourth quarter was $23.3 billion, up 18% year-over-year, reflecting increased capital expenditures to support its cloud and artificial intelligence products.