Microsoft's board of directors has approved a new share repurchase program worth up to $60 billion, the company said in a statement.
The tech giant announced a quarterly dividend of $0.83 per share, reflecting an increase of 8 cents, or 10 percent, from the previous quarter.
Microsoft said it will hold its annual shareholders meeting on December 10.
In July, the company said it would spend more this year on AI infrastructure. It reported a 77.6 percent increase in capital spending in the quarter ended June 30, largely due to AI-related spending.
The company also revealed a slowdown in growth in its Azure cloud business in the previous quarter, but said growth would accelerate in the second half of fiscal 2025.
Big tech companies, including Microsoft and Alphabet Inc.’s Google, are facing pressure from investors to show a return on the billions of dollars invested in AI infrastructure.
Microsoft is one of the few major companies that discloses AI contributions in its quarterly earnings, as most companies have yet to see a big boost from AI investments.
Among other big tech companies, Apple unveiled a record $110 billion share buyback program in May after reporting upbeat quarterly results.
Microsoft shares were slightly higher in after-hours trading on Wall Street. The stock is up about 15 percent so far this year.
