Microsoft Corp.'s board authorized a new share repurchase program of up to $40 billion.
The share repurchase program does not have an expiration date and may be terminated at any time, the software giant said Sept. 18.
The company's board also declared a quarterly dividend of 51 cents per share, reflecting a 5 cent, or 11%, increase over the previous quarter's dividend. The dividend is payable Dec. 12 to shareholders of record Nov. 21.
Microsoft's 2019 annual shareholder meeting will be held Dec. 4.
