Microsoft (MSFT) - Get Microsoft Corporation (MSFT) Report raised its quarterly dividend rate by 11%, to 62 cents from 56 cents, payable to shareholders of record on November 18. The company announced a $60 billion stock buyback with no expiration date, which can be terminated at any time, Reuters reported.
Microsoft also named Brad Smith, its chief legal counsel, to the position of vice chairman, making his the second-highest ranked employee behind chairman and CEO Satya Nadella.
In the video above, Jim Cramer broke down what the buyback could mean for Microsoft's upcoming quarter.
Recap TheStreet Live: Everything Jim Cramer Is Watching 9/15/21
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