Microsoft Corporation (MSFT) will raise its quarterly dividend by 10.9 percent to $0.51 per share in 2019. This marks the 17th consecutive year of annual dividend increases.

The new dividend is payable Dec. 12, 2019, to shareholders of record on Nov. 21, 2019. The ex-dividend date will be Nov. 20, 2019. A new annualized dividend rate of $2.04 per share yields 1.5% at at stock price of $138.52.

Microsoft also approved a new share repurchase program authorizing up to $40 billion in share repurchases. The new share repurchase program, which has no expiration date, may be terminated at any time.

Microsoft Corporation is a technology company. The company develops, licenses, and supports software products, services and devices. Its products include operating systems; cross-device productivity applications; server applications; business solution applications; desktop and server management tools; software development tools; and video games. Microsoft also manufactures devices, including PCs, tablets, gaming and entertainment consoles, other intelligent devices, and related accessories.The company offers an array of services, including cloud-based solutions that provide customers with software, services, platforms, and content. Microsoft also provides solution support and consulting services and delivers relevant online advertising to a global audience. Microsoft was founded in 1975 and has paid a dividend every year since 2003.