Microsoft announces dividend hike and stock buyback program đ¤
Thursday, 16th September 2021 by Gotrade
Hey Gotraders,
Microsoftâs (MSFT) Board of Directors declared a quarterly dividend of $0.62 per share, up 6 cents from the previous quarter. Thatâs an 11% hike! Cha-ching! đ° #ItâsRainingMoney!
The dividend will be paid out on 9th Dec 2021 to shareholders of record on 18th Nov 2021. The ex-dividend date will be 17th Nov 2021.
The Board also approved up to $60 billion of share repurchases. The new share repurchase program, which has no expiration date, may be terminated at any time. There are various reasons for companies to buy back their own stock, but usually, itâs because the company has surplus cash and they believe in their own long-term growth. Instead of investing in other companies, they choose to invest in themselves.
Microsoft also announced that they will be appointing Brad Smith as the companyâs President and Vice-Chair. Smith will continue to report to Satya Nadella, Chairman and CEO of Microsoft.
Microsoft announced that their 2021 Annual Shareholders Meeting will be held virtually on 30th Nov 2021. Shareholders on record on 30th Sept 2021 will be entitled to vote.
Why is this important? Microsoft clearly has a surplus of cash for them to be able to increase its dividend payouts, and buy back their own shares. They are sharing their profits with shareholders. It pays to invest smartly in companies that pay out dividends.
P.S. Gotrade has a Dividend Aristocrats category and ETF incase you werenât aware đ
đ Mizuho gives SoFi a $28 price target đ
Mizuho began coverage of SoFi (SOFI) and gave them a âbuyâ rating, and a $28 price target. SoFiâs closing price on Tuesday was $14.50. Thatâs nearly a 100% price increase in its target price! Wowwwwza!
Mizuho thinks that SoFi is becoming a "full-fledged, super-app neo-bank" with next-generation capabilities. Impressive!
Shares of SoFi are up 26.64% year-to-date and closed at $15.45.
đ Amazon partners with Deliveroo đ¤
Amazon (AMZN) is offering its Amazon Prime members a yearâs worth of free delivery service Deliveroo Plus in the U.K. on orders over £25. Amazon led a $575 million funding round in the startup a couple of years ago. Rival companies such as Just Eat Takeaway (GRUB), Uber Eats (UBER), and DoorDash (DASH) will soon feel the pressure! Yikes.
Shares of Just Eat Takeaway and Uber closed 4.98% and 1.36% lower respectively for the day, while shares of DoorDash closed 3.21% higher for the day.
Shares of Amazon are up 9.07% year-to-date and closed at $3,475.79.
Top movers & shakers đ˘
What else is making headline news đ°
Yum China (YUMC) warns quarterly profit to take over 50% hit due to Delta variant.
Stock market pullback likely by year-end, Deutsche Bank (DB) survey finds.
Walmart (WMT) to test self-driving cars in multiple cities with Ford (F) and Argo AI.
FDA staff declines to take stance on Pfizerâs (PFE) Covid booster shots, citing a lack of verified data.
Popular companies releasing earnings this week đ°
Friday: Manchester United (MANU)
A companyâs market value may fluctuate considerably around the time that the earnings report is expected to be published. Stock prices may rise or fall according to analysts' speculative estimates, released prior to the actual earnings announcement.
The earnings season can be a time of great opportunity since better-than-expected figures could cause a companyâs stock to greatly increase in value. Worse-than-expected results could have the opposite effect.
Thatâs all from us for now.Â
Signing out,
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