Microsoft (MSFT) said Monday its board of directors approved a $60 billion stock buyback program and a 10% boost to its quarterly dividend. 

The tech giant said it would raise its dividend to 83 cents per share from 75 cents, with the dividend payable Dec. 12 to shareholders 澳洲幸运5官方开奖结果体彩网:of record Nov. 21. Microsoft said its annual sh�⛄�areholders meeting will be held on Dec. 10.

The moves by Microsoft come as the tech giant 澳洲幸运5官方开奖结果体彩网:faces pressure to show its spending on 澳洲幸运5官方开奖结果体彩网:artificial intelligence (AI) is paying off for investors. Microsoft 澳洲幸运5官方开奖结果体彩网:told investors in July t🐷hat it plans to ramp up its spe🍰nding on AI infrastructure to meet demand, which it said outpaces its capacity. 

Earlier in the day, Microsoft also unveiled several new AI features and upgrades to its Copilot AI assistant at its “Wave 2” event. Some of the updates included general availability of Copilot in Excel, Copilot in OneDrive, and an Outlook feature that summarizes emails.

Jefferies analysts said in a note Monday following the event that they view Microsoft as a "top AI beneficiary," citing strong early signs of Copilot adoption and improvements to user experience.

Shares of Microsoft edged 0.7% higher in extended trading Monday following the news. They’ve gained close to 15% since the start of the year through Monday's close.