Microsoft Corp. has announced a 10% increase in its quarterly dividend and a new $60 billion stock buyback program, mirroring a similar plan from three years ago. Shareholders of record as of November 21 will now receive a dividend of 83 cents per share, up from the current 75 cents. The buyback plan, which has no expiration date, replaces the 2021 program of the same size. Microsoft shares saw a boost of up to 2.4% following the news.

While the $60 billion buyback is significant, it represents less than 2% of Microsoft’s current $3.2 trillion market value. Over the past 12 months, Microsoft’s shares have surged 31%, largely driven by investor optimism surrounding the company’s advancements in artificial intelligence. With strong free cash flow and continued investments in AI and cloud technologies, Microsoft remains a dominant force in the tech sector.