Microsoft quarterly dividend boosted by nearly 10%

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Shares of Microsoft Corp. MSFT, -0.74% fell 0.7% in premarket trading Tuesday, after the software behemoth said it raised its quarterly dividend by 9.7%, to 68 cents a share from 62 cents a share. The new dividend will be payable Dec. 8 to shareholders of record on Nov. 17. Based on Monday’s stock closing price of $244.52, the new annual dividend rate implies a dividend yield of 1.11%, which compares with the yield for the SPDR Technology Select Sector ETF XLK, -0.85% of 0.96% and the implied yield for the S&P 500 SPX, -1.16% of 1.70%. Microsoft’s stock has tumbled 27.3% year to date through Monday, while the Dow Jones Industrial Average DJIA, -1.20% has declined 14.6%.

This article was originally published by Marketwatch.com. Read the original article here.

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