Microsoft (NASDAQ: MSFT) declared a quarterly dividend of $0.51 per share, or $2.04 annualized. This is a 10.9% increase from the prior dividend of $0.46.

The dividend will be payable on December 12, 2019, to stockholders of record on November 21, 2019, with an ex-dividend date of November 20, 2019.

The annual yield on the dividend is 1.5 percent.

The board of directors also approved a new share repurchase program authorizing up to $40 billion in share repurchases. The new share repurchase program, which has no expiration date, may be terminated at any time.

In addition, the company announced the date for the 2019 Annual Shareholders Meeting, to be held on Dec. 4, 2019. Shareholders at the close of business on Oct. 8, 2019, 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, chief executive officer; Amy Hood, chief financial officer; Brad Smith, president and chief legal officer; and John W. Thompson, Microsoft independent board chair. A virtual meeting format provides a consistent experience to all shareholders regardless of location, as well as the opportunity for global, multilingual and interactive access to a dialogue with its senior executives and directors.

As with previous shareholders meetings, a business update from senior executives will be followed by a 30-minute question and answer session with shareholders. Microsoft's board of directors will also attend the meeting to hear shareholders' questions and feedback. More information about the virtual format can be found on the Microsoft On the Issues blog.

For a dividend history and other dividend-related data on Microsoft (MSFT) click here.