Microsoft Seeks to Bolster Share Price With $40B Buyback
Microsoft announced plans to buy back $40 billion of its own stock, increase its dividend by 18 percent, and tap the debt markets for the first time in its 33-year history. The moves come at a time when many companies are battening down the hatches in anticipation of an ever-tightening credit market as a result of the recent turmoil on Wall Street. The stock buyback will occur over the next five years.
Microsoft’s board also approved taking on up to $6 billion in debt and up to $2 billion in short-term debt.
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Microsoft Seeks to Bolster Share Price With $40B Buyback
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