Microsoft announces 22 per cent quarterly dividend hike with pledge to return cash to shareholders

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Technology giant Microsoft has upped its quarterly dividend with the announcement of a $40bn share repurchase. That repurchase is an old commitment, but the dividend increase is new.

Microsoft Corp. announced on Tuesday that its board of directors declared a quarterly dividend of $0.28 per share, reflecting a 5 cent or 22 percent increase over the previous quarter’s dividend. The dividend is payable Dec. 12, 2013, to shareholders of record on Nov. 21, 2013. The ex-dividend date will be Nov. 19, 2013.

Microsoft's chief financial officer Amy Hood said that the actions "reflect a continued commitment to returning cash to our shareholders".