Microsoft boosts dividend 11 percent, adds new directors

16/09/2014 - 23:51

SEATTLE (Reuters) - Microsoft Corp on Tuesday announced an 11 percent increase in its quarterly dividend and appointed two new directors to replace two board members who decided not to seek re-election.

MICROSOFT (MSFT.NQ)has increased its payout to shareholders almost every year since it introduced a regular quarterly dividend in 2004. It did not increase the dividend in recession-hit 2009, when it also laid off more than 5,000 employees.

The company said Teri List-Stoll, chief financial officer of Kraft Foods Group Inc and Charles Scharf, chief executive of Visa Inc, have been appointed to the board, effective Oct. 1. Existing board members Dave Marquardt and Dina Dublon will retire from the board at the end of their current terms in December.

(Reporting by Bill Rigby; Editing by David Gregorio)