Microsoft Boosts Dividend, Gets Debt-Sale Approval

Microsoft Corp. raised its quarterly dividend by 3 cents, or 23 percent, to 16 cents a share and got approval from its board to sell as much as $6 billion in additional debt.

“This higher dividend, combined with our ongoing share repurchase program, reflects our commitment to returning capital to our shareholders and our confidence in the long-term growth of the company,” Microsoft Chief Financial Officer Peter Klein said today in a statement.

Microsoft is planning to sell debt this year to pay for dividends and share repurchases because much of its cash is held overseas, a person familiar with the matter said last week. The company will try to raise as much as possible without jeopardizing its debt rating of AAA, the highest available, said the person, who declined to be named because the plans are confidential and not completed.

Read Full Article from BusinessWeek

- Posted: 2010-09-21 22:26:24

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