Microsoft Dividend Hike Not Enough to Buoy Stock

Microsoft has increased its quarterly dividend by seven cents to $0.98 per share.

This represents an 8% rise and will be paid on December 10 to shareholders of record as of November 19.

The company returned a substantial $10.2 billion through dividends and share repurchases last quarter, equivalent to roughly 11.3% of its $90 billion in quarterly revenue.

Microsoft's cloud and enterprise-software business continues to expand, with Microsoft Cloud generating $59.3 billion and Azure revenue climbing 43%.