"Dude, where's my cash?" That's the question investors have been asking Microsoft (MSFT ) for months as the company's green stuff piled up to some $60 billion. On July 21, they got their answer. Microsoft announced the largest one-time corporate dividend in history. On Dec. 2, it will pay out an eye-popping $32 billion to shareholders. It will also double its annual dividend to 32 cents a share, or $3.5 billion, and buy back $30 billion worth of its own stock over the next four years. Advertisement
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They could have bought back roughly 2B shares with the $60B cash at today's stock prices discounting the inevitable effects of supply/demand imbalance such atrading pressures would cause.
Wouldn't that have had a more desirable long term impact on shareholder value and the indexes?
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