Microsoft Hikes Quarterly Dividend By 9.8%
By Editor - Wed Sep 16, 4:25 am
Software giant Microsoft increased its quarterly dividend by 9.8% to $0.56 per share from $0.51 per share.Microsoft’s (MSFT) new quarterly dividend of $0.56 per share translates to an annualized dividend of $2.24 per share and will be payable on Dec. 10 to stockholders of record on Nov. 19, 2020. The annual dividend yield is 1.1%.Last week, Morgan Stanley analyst Keith Weiss said that he expects Microsoft to increase its dividends by 10+%, resulting in a dividend yield of more than 1%. “Combined with mid-teens EPS growth, the supports [Microsoft's] premium total return profile, a durable and attractive level in uncertain times,” the 5-star analyst wrote in a note to clients.He maintained a Buy rating and lifted the price target to $245 (17.4% upside potential) from $230.
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