REDMOND, Wash., Sept. 17 (UPI) -- U.S. technology giant Microsoft said Tuesday it would launch a $40 billion stock repurchasing plan to replace a $40 billion program set to end Sept. 30.
The new repurchasing program has no expiration date, the company said.
The company also said it would add 5 cents to its quarterly dividend. At 28 cents per share, the dividend for the quarter is a 22 percent increase over the first quarter's dividend, Microsoft said.
"These actions reflect a continued commitment to returning cash to our shareholders," said Amy Hood, the company's chief financial officer.