Microsoft (NASDAQ:MSFT), the globally recognized software company, has announced a 10% increase in its dividend payout on Tuesday. This marks the tenth consecutive year of such an increment, reflecting the company's robust financial health and commitment to its shareholders.
The revised dividend rate now stands at 75 cents per share on a quarterly basis, a climb from the previous rate of 68 cents per share. This enhancement propels Microsoft's annual shareholder payout to $3 per share. The higher dividend rate endows Microsoft's shares with a yield of 0.9%.
Despite this positive development, Microsoft's shares experienced a slight dip of 1%, closing at $325.72 on Tuesday. However, it's worth noting that the company's stock has seen an overall upswing this year, boasting a 36% rise.
The decision to boost the dividend rate is in line with Microsoft's ongoing trend of rewarding its shareholders. The consistent increase in dividends over the past decade underscores Microsoft's commitment to returning capital to its investors.
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