Microsoft (MSFT) will raise its quarterly dividend by 7.7 percent to $0.42 per share in the fourth quarter of 2017. This follows a dividend hike of 8.3% in 2016 by the technology giant.

The increased dividend is payable Dec. 14, 2017, to shareholders of record on Nov. 16, 2017. The ex-dividend date will be Nov. 15, 2017. Its the 15th consecutive year of dividend increases for Microsoft, bringing the total annual dividend payments close to $13 billion.

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.