Microsoft’s $40 Billion Stock Buyback (MSFT)
Microsoft Corp. (NASDAQ: MSFT) is announcing another monster share buyback plan. This one gives it the authorization to repurchase as much as $40 billion worth of stock. Its last buyback plan has been completed. This new one is through September…
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.
Microsoft Corp. (NASDAQ: MSFT) is announcing another monster share buyback plan. This one gives it the authorization to repurchase as much as $40 billion worth of stock. Its last buyback plan has been completed. This new one is through September 30, 2013.
The company has announced it has authorized debt financings of up to $6 billion and has established a commercial paper program under that of $2 billion. The company has also boosted its dividend by 18% up to $0.13per quarter.
Shares were up on the AAA rating from S&P, which has effectivelybeen shared now by Moody’s as part of the plan. Microsoft is now trading up5% at $26.40 in pre–market trading. Its 52-week trading range is$23.50 to $37.50.
Jon C. Ogg
September 22, 2008
Contact [email protected] for any questions or corrections.
Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.
A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
