Along with all the big Windows 11 news, Microsoft announced yesterday that it will increase its quarterly dividend effective Dec. 8 to $0.68 per share from $0.62. This 6 cent increase is equivalent to a 10% increase. Microsoft said those eligible for the December 8 payout must be registered as shareholders on November 17, with the ex-dividend date on November 16.
At the time of writing, Microsoft stock is currently worth $242.45, down from $334.75 a year ago. Like the rest of the S&P 500, Microsoft’s share price has tumbled over the past 12 months as the Federal Reserve makes credit more expensive to borrow through higher interest rates to fight inflation.
In addition to the announcement of a higher dividend, Microsoft said that its annual shareholder meeting will take place virtually on December 13th. Those who own shares of Microsoft will, as of October 12, have the right to vote with their shares on any decisions that need to be made during the meeting. meeting.
The December meeting will be hosted by CEO Satya Nadella, CFO Amy Hood, President Brad Smith, and Microsoft’s lead independent director, John Thompson. Interestingly, CNN Money’s insider trading tab on Microsoft’s stock page suggests that both Nadella and Hood sold millions of dollars worth of stock late last and early this year, even though the price was slightly higher.