Microsoft Corp. raises dividend 15 percent
Microsoft Corp. quarterly dividend will be 23 cents. Shares of Microsoft Corp. fall slightly.
MicrosoftÂ Corp. says it is increasing its quarterlyÂ dividendÂ by 15 percent.
The Redmond, Washington-based software company said Tuesday that it will pay aÂ dividendÂ of 23 cents on Dec. 13 to shareholders of record as of Nov. 15.
That is up from its prior-quarterÂ dividendÂ of 20 cents.
MicrosoftÂ also said that long-time board member Raymond Gilmartin will retire. The 71-year old former CEO of Merck & Co. has served onÂ Microsoft'sÂ board for 11 years. Gilmartin said he is reducing his professional commitments to have more personal time.
Gilmartin will serve until the next annual meeting, usually held in November. The company's board will then have 10 members.
Shares ofÂ MicrosoftÂ fell 4 cents to close at $31.17.