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.

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.

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.

Microsoft said on Monday its board has approved a new share buy back program of up to $60 billion. The tech giant declared a quarterly dividend of $0.83 per share, reflecting an 8 cent, or 10%, increase over the previous quarter.

Microsoft is increasing its quarterly dividend 10% and announced a new $60 billion stock-buyback program, matching the size of a repurchase plan three years ago. Mandeep Singh of Bloomberg Intelligence has more.

Microsoft Corp. announced a 10% increase in its quarterly dividend and launched a new $60 billion stock buyback program, matching the size of its repurchase plan from three years ago.

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