Microsoft announced it would raise its quarterly payout from $0.75 to $0.83, good for a 10.7% increase. The hike will go into effect for the December dividend payout, which will go to holders of the stock as of Nov. 20, with an ex-dividend date of Nov. 21.

Microsoft ($MSFT) is enhancing its shareholder value with a 10% dividend increase and a new $60 billion stock buyback program. These actions

Only three U.S. companies have ever announced buyback programs bigger than Microsoft’s latest — though the new dividend yield is still low relative to those of fellow Dow components.

Microsoft's share repurchase program, which has no expiration date, replaces its previous $60 billion authorization announced four years ago. Meanwhile, investors also cheered the news that shareholders of record as of Nov. 21 will receive a quarterly dividend of 83 cents per share, up from the current 75 cents a share.

Microsoft on Monday announced a $60 billion stock buyback program and a 10% boost to its quarterly dividend. The moves come as Microsoft faces pressure to show its spending on artificial intelligence (AI) is paying off.

Tech giant Microsoft revealed that its board of directors approved a new $60 billion stock-buyback program. The repurchase program has no expiration date and may be terminated at any time, according to the company’s statement.