Microsoft (MSFT - Get Report) rose Thursday after the computer software bellwether announced it was setting aside $40 billion to buy back its own stock, and raising its quarterly dividend by 5 cents a share.
Shares of Microsoft were up 2.19% at $141.56 in trading Thursday after the company announced its board authorized another $40 billion for share buybacks and approved lifting its dividend to 51 cents a share. Earlier in the session the stock hit an all-time intraday high of $142.37.
The new dividend of 51 cents a share is payable Dec. 12, to shareholders of record as of Nov. 21.
The Redmond, Washington-based company returned $7.7 billion to shareholders in the form of share repurchases and dividends in its fiscal 2019 fourth quarter. Since June 30 it has bought $19.54 billion of its shares; in its previous fiscal year, it bought $10.72 billion of its own stock.