Microsoft Corp. (MSFT) announced it will raise its dividend about 10% Tuesday, to 56 cents a share from 51 cents a share. Microsoft shares were up about 0.5% in after-hours trading following the announcement. The stock received a bigger boost last week, when Morgan Stanley analyst Keith Weiss predicted ( ) the tech giant would increase its dividend by 10% or more in the coming days to push its implied dividend yield back above 1%. Microsoft also disclosed that it will hold a virtual annual shareholders meeting on Dec. 2. Microsoft shares closed with a 1.6% gain in Tuesday's regular session at $208.78, giving it a market capitalization of $1.55 trillion. Shares have returned 33.4% so far in 2020, while the S&P 500 index has returned 6.2%.
-Jeremy C. Owens; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
September 15, 2020 16:22 ET (20:22 GMT)
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