Microsoft Corporation (MSFT) will raise its quarterly dividend by 10.7 percent to $0.62 per share in 2021. This comes after a dividend hike of 9.8 percent to 56 cents per share announced by MSFT in 2020 and will mark the 19th consecutive year of annual dividend increases for Microsoft.

The next MSFT dividend of $0.62 per share is payable on December 9, 2021, to shareholders of record on November 18, 2021. The next MSFT ex-dividend date will be November 17, 2021. A new annualized dividend rate of $2.48 per share yields 0.83% at at stock price of $300 for Microsoft.

The Microsoft board of directors also approved a new share repurchase program authorizing up to $60 billion in share repurchases. The new share repurchase program, which has no expiration date, may be terminated at any time.

For Microsoft the average annual dividend hike in the last five years will jump from 9.2 to 9.7 percent. In 2019 the dividend was hiked by double digits for the first time since 2015, when Microsoft announced a 16.1 percent dividend increase. With 19 consecutive years of dividend increases the company now has one of the best dividend track records in the technology sector.

Microsoft Corporation is a technology company. The company develops, licenses, and supports software products, services and devices. The company's 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.