Microsoft announced this morning that it would spend as much $40 billion buying back its own shares between now and 2013. The company recently completed another $40 billion buyback. Microsoft also said it would raise its dividend from 11 cents to 13 cents a share, payable on December 11.
This follows on the heels of Hewlett-Packard's announcement that it would buy $8 billion if its own shares. All this could be good news for investors, whose share prices are likely to go up when companies take shares off the market.
Getting out ahead of a major plunge?