• Reuters, Monday, September 22, 2008 1:15 PM

Microsoft on Monday announced that it would repurchase $40 billion worth of its own stock, and raise its quarterly dividend by 18% in an effort to spur investors into buying the company's stock.

That raises Microsoft's dividend from 11 cents a share to 13 cents. The $40 billion buyback program will expire on Sept. 30, 2013.

According to Reuters, the company recently completed a $40 billion stock repurchase program. It also said its board had issued debt financings "from time to time" of up to $6 billion. The company will use the proceeds from this for general corporate purposes.

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