Microsoft announced it's second buyback in two years and this it is even bigger. The world's largest software maker will buyback stock worth 60 billion dollars from shareholders.
Shareholders have already enjoyed a 35% rally in the share price, making the Satya Nadella led tech titan the second-most valuable publicly traded company. Microsoft’s previous buyback plan, unveiled in September 2019, was for $40 billion.
The company also increased its quarterly dividend by 6 cents (11 percent) to 62 cents a share. It was the 12th straight year that the company has boosted its quarterly payout following its September board meeting.