Microsoft had two pieces of good news for investors this morning. The world’s second most valuable company is increasing its shareholder payout by 10% and launching a $60 billion share buyback program.

Only three U.S. companies have ever announced buyback programs bigger than Microsoft’s latest — though the new dividend yield is still low relative to those of fellow Dow components.

Microsoft's share repurchase program, which has no expiration date, replaces its previous $60 billion authorization announced four years ago. Meanwhile, investors also cheered the news that shareholders of record as of Nov. 21 will receive a quarterly dividend of 83 cents per share, up from the current 75 cents a share.

Microsoft on Monday announced a $60 billion stock buyback program and a 10% boost to its quarterly dividend. The moves come as Microsoft faces pressure to show its spending on artificial intelligence (AI) is paying off.

Microsoft announces a $60 billion repurchase and a 10% dividend increase, following a 31% increase in share price over the previous year. TakeAway Points: Microsoft announces a $60 billion stock buyback programme,

Tech giant Microsoft revealed that its board of directors approved a new $60 billion stock-buyback program. The repurchase program has no expiration date and may be terminated at any time, according to the company’s statement.