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HP to Buy Back $8 Billion in StockPOSTED September 22, 2008 PALO ALTO -- The HP company said its board of directors has approved the authorization of an additional $8 billion for share repurchases. HP intends to use the additional authorization as part of its ongoing program to manage the dilution created by shares issued under employee stock plans and to repurchase shares opportunistically. HP repurchased approximately $1.6 billion worth of its shares in the third quarter and, as of July 31, 2008, had approximately $3.0 billion of repurchase authorization remaining under the $8.0 billion repurchase authorization approved by the board in November 2007. HP has approximately 2.5 billion shares of common stock outstanding. Microsoft Corp. also announced today a stock buyback of up to $40 billion in share repurchases through September 30, 2013. The software giant also declared a quarterly dividend of $0.13 per share, reflecting a two cent or 18 percent increase over the previous quarter's dividend. Microsoft said it has returned over $115 billion to shareholders
through a combination of share repurchases and dividends over
the last five years. © Copyright SVDaily.com |
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