Microsoft President Brad Smith. (File Photo) |
Microsoft Corp on Tuesday said it will conduct
an up to $60 billion share buyback programme, raise its quarterly dividend by
11%, and appoint company President Brad Smith as vice chair.
Microsoft said the buyback programme has no
expiration date and may be terminated at any time, and that it would pay a
dividend of $0.62 per share - 6 cents over the previous quarter.
The U.S. technology giant also called the vice
chair position an updated executive role for Smith, who currently leads a team
of over 1,500 staff in 54 countries, according to his biography on Microsoft's
website.
Smith joined Microsoft in 1993 from law firm
Covington & Burling to run corporate and legal affairs operations in Europe.
He became general counsel in 2002 and, over the next decade, handled the
resolution of antitrust cases, the biography showed.
Smith will continue to report to Chief
Executive Officer Satya Nadella, Microsoft said.
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