Microsoft plans to implement a share buyback program of up to $60 billion.
According to Arabiya Net, the company will raise its quarterly dividend by 11%, and will appoint the company's president, Brad Smith, as vice president.
Microsoft said the buyback program has no expiration date and may be terminated at any time, and disclosed a dividend of $0.62 per share, after earnings rose 6 cents from the previous quarter.
The company's stock rose 35% in 2021, to reach $2.2 trillion, making it the second largest listed company on Wall Street by value, while it was Microsoft's previous buyback plan, unveiled in September 2019, is $40 billion.
The US tech giant also described the vice president position as an updated executive role for Smith, who currently leads a team of more than 1,500 employees in 54 countries, according to his biography at Microsoft website.
Smith joined Microsoft in 1993 from the law firm Covington & Burling to manage corporate and legal affairs operations in Europe. The biography showed that he became general counsel in 2002 and, over the next decade, dealt with antitrust cases.
Microsoft said Smith will continue to report to CEO Satya Nadella.
