Microsoft (MSFT) will raise its quarterly dividend by 21.7 percent to $0.28 per share in the fourth quarter of 2013. This follows a $0.03 per share dividend hike to $0.23 per share quarterly last year.

The new dividend will be paid on December 12, 2013 to shareholders of record on November 21, 2013. Microsoft has now raised its dividend for 11 consecutive years. The company initiated a quarterly dividend of $0.08 per share in 2003.

Microsoft Corporation is a technology company. The Company develops, licenses, and supports software products, services and devices. Its products include operating systems and a wide range of applications and devices (including tablets and gaming and entertainment consoles) that integrate with its cloud-based offerings.