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Microsoft's stock peeks into record territory after dividend raised, new $60 billion buyback program announced

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Microsoft's stock peeks into record territory after dividend raised, new $60 billion buyback program announced
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Shares of Microsoft Corp. rallied 1.2% in morning trading Wednesday, and peeked into record territory earlier in the session, after the software behemoth raised its dividend by 11% and announced a new $60 billion stock repurchase program. The company said late Tuesday that it raised its quarterly dividend to 62 cents a share from 56 cents, with the new dividend payable Dec. 9 to shareholders of record on Nov. 18. Based on current stock prices, the new annual dividend rate implies a dividend yiel