REDMOND, Wash., Sept. 18, 2019 /PRNewswire/ -- Microsoft Corp. on Wednesday announced that its board of directors declared a quarterly dividend of $0.51 per share, reflecting a 5 cent or 11% increase over the previous quarter's dividend. The dividend is payable Dec. 12, 2019, to shareholders of record on Nov. 21, 2019. The ex-dividend date will be Nov. 20, 2019.
The board of directors also approved a new share repurchase program authorizing up to $40 billion in share repurchases. The new share repurchase program, which has no expiration date, may be terminated at any time.
In addition, the company announced the date for the 2019 Annual Shareholders Meeting, to be held on Dec. 4, 2019. Shareholders at the close of business on Oct. 8, 2019, the record date, will be entitled to vote their shares.
This year's annual shareholders meeting will be held virtually and hosted by Satya Nadella, chief executive officer; Amy Hood, chief financial officer; Brad Smith, president and chief legal officer; and John W. Thompson, Microsoft independent board chair. A virtual meeting format provides a consistent experience to all shareholders regardless of location, as well as the opportunity for global, multilingual and interactive access to a dialogue with its senior executives and directors.
As with previous shareholders meetings, a business update from senior executives will be followed by a 30-minute question and answer session with shareholders. Microsoft's board of directors will also attend the meeting to hear shareholders' questions and feedback. More information about the virtual format can be found on the Microsoft On the Issues blog.
In addition to providing the live webcast of the annual meeting, shareholders will have the option to view the annual meeting through Microsoft Teams at www.microsoft.com/investor. As with previous meetings, the transcript with video and audio of the entire meeting will be available on the Microsoft Investor Relations website following the meeting.
Microsoft (Nasdaq "MSFT" @microsoft) enables digital transformation for the era of an intelligent cloud and an intelligent edge. Its mission is to empower every person and every organization on the planet to achieve more.
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SOURCE Microsoft Corp.