Microsoft (MSFT) Dividend Yielding Well Above S&P With Latest Hike, Piper Jafffray Notes

Piper Jaffray analyst Katherine Egbert was positive on Microsoft's(NASDAQ: MSFT) dividend hike after the close.

Egbert notes with the hike the yield goes to 3.3%, which is up from 2.8% and significantly above the 2.1% yield for the S&P500.

"Increasing the quarterly dividend to raise the yield above the S&P and above historical norms seems like another lever being pulled in the on-going movement towards increased shareholder value," Egbert commented.

The firm maintained an Overweight rating and price target of $53.

For an analyst ratings summary and ratings history on Microsoft click here. For more ratings news on Microsoft click here.

Shares of Microsoft closed at $43.98 yesterday.

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