Microsoft, the world’s leading software producer, on Friday bumped up its existing share buyback plan by roughly $16.2 billion, boosting the value of its authorized buyback through June 30, 2011 to approximately $36.2 billion, The Wall Street Journal reports.
The Redmond, Wash.-based firm made its buyback plans public after posting its fiscal fourth quarter financials in late July, and it said at that time the plan included a tender offer to buy back $20 billion worth of stock before Aug. 17 as well as authorization to continue buybacks to the tune $20 billion until 2011, according to the Journal.
The software behemoth also said Friday that early results of a tender offer—in the form of a Dutch auction that ended Thursday—suggest it will be able to buy back roughly 155 million of the company’s common shares for a price of $24.75 apiece, with a total value of $3.8 billion, the Journal reports.
The shares to be bought back make up about 1.5 percent of outstanding Microsoft shares, according to the Journal.
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