Microsoft Corp (NASDAQ:MSFT) said on Tuesday it would buy back up to $40 billion as a part of a new share repurchase program and raised its dividend by 8 percent.
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The company raised its dividend to 39 cents per share, up 3 cents from the previous quarter.
Microsoft's shares were up 1 percent at $57.41 in extended trading on Tuesday.
(Reporting by Narottam Medhora in Bengaluru; Editing by Shounak Dasgupta)