Microsoft Corp to buy back up to $40 billion of shares

Technology giant Microsoft Corp increased its quarterly dividend by 22% to 28 cents per share and launched a new share buyback program of up to $40 billion. Microsoft has been going through a slew of changes, with Chief Executive Steve Ballmer announcing to retire soon, just weeks after the company’s poor performance on sales of its new Surface tablet. Microsoft is likely to buy Nokia’s phone business in this month and would license Nokia’s patents for 5.44 billion euros ($7.2 billion).

Month: Current Affairs - September, 2013