Microsoft increases dividend by 10%Jabran Kundi
Microsoft Corporation (MSFT:US) has recently announced a significant adjustment in its dividend policy, whereby it will raise its quarterly dividend by 10%. The revised quarterly dividend payout will be 75 cents per share, marking a 7-cent increase from its previous distribution.
Within the Dow Jones Industrial Average, Microsoft has been one of the companies with relatively lower dividend yields. In fact, only Visa Inc. (V) and Apple Inc. (AAPL) offer lower dividend yields among its peers. Even with this forthcoming dividend hike, Microsoft’s implied yield will remain lower than that of the fourth-highest-yielding Dow component, Intel Corp. (INTC), which presently yields 1.32%.
Furthermore, Microsoft has set the date for its 2023 Annual Shareholders Meeting, scheduled for December 7, 2023. Shareholders who hold Microsoft shares as of the record date on September 29, 2023, will be eligible to participate in and cast their votes during this meeting, where important decisions regarding the company will be made.