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Microsoft: Brad Smith Promoted to Vice Chair

September 16, 2021

Microsoft's board of directors declared a quarterly dividend of $0.62 per share, reflecting a 6 cent or 11% increase over the previous quarter's dividend. The dividend is payable Dec. 9, 2021, to shareholders of record on Nov. 18, 2021. The ex-dividend date will be Nov. 17, 2021.

The board of directors also approved a new share repurchase program authorizing up to $60 billion in share repurchases. The new share repurchase program, which has no expiration date, may be terminated at any time.

The board of directors approved the appointment of Brad Smith as president and vice chair of Microsoft. "This reflects the unique leadership role that Brad plays for the company, our board of directors and me, with governments and other external stakeholders around the world," said Satya Nadella, chairman and chief executive officer of Microsoft. This is an updated executive role for Mr. Smith who will continue to report to Mr. Nadella.

In addition, the company announced the date for the 2021 Annual Shareholders Meeting, to be held on Nov. 30, 2021. Shareholders at the close of business on Sept. 30, 2021, the record date, will be entitled to vote their shares.

This year's annual shareholders meeting will be held virtually and hosted by Satya Nadella, chairman and chief executive officer; Amy Hood, chief financial officer; Brad Smith, president and vice chair; and John W. Thompson, Microsoft lead independent director.

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