REDMOND, Wash., Sept. 19, 2017 /PRNewswire/ -- Microsoft
Corp. on Tuesday announced that its board of directors declared a
quarterly dividend of $0.42 per
share, reflecting a 3 cent or 7.6
percent increase over the previous quarter's dividend. The dividend
is payable Dec. 14, 2017, to
shareholders of record on Nov. 16,
2017. The ex-dividend date will be Nov. 15, 2017.
The company also announced the date for the 2017 annual
shareholders meeting, to be held Nov. 29,
2017. Shareholders at the close of business on Sept. 29, 2017, the record date, will be entitled
to vote at the annual shareholders meeting.
In addition, the company announced the appointment of
Hugh Johnston, vice chairman and
chief financial officer of PepsiCo, to its board of directors and
to the board's audit committee, effective immediately. Johnston
brings valuable experience through his nearly 30-year history at
PepsiCo, the global food and beverage company whose product
portfolio includes 22 brands that generate more than $1 billion each in estimated annual retail
sales.
Johnston, 56, has served as the chief financial officer since
2010 and became vice chairman in 2015. In his career at PepsiCo, he
has served as executive vice president of global operations,
president of Pepsi-Cola North America, senior vice president of
transformation, and senior vice president of mergers and
acquisitions. Johnston has previously served as a director and
audit committee chair for Twitter Inc. and AOL Inc. He currently
serves as a director for the Peterson Institute for International
Economics, on the University of
Chicago's Booth School CFO Advisory Board, and on
Syracuse University's Whitman School of
Management Advisory council. Adding Johnston increases Microsoft's
board to 13 members.
"Hugh is an accomplished financial and business leader who
brings a depth of experience from his successful career at PepsiCo
where he has oversight of finance, IT, e-commerce and the company's
digital transformation," said John W.
Thompson, independent Microsoft board chairman. "He is a
great addition to Microsoft's board of directors, and we look
forward to working with him."
Microsoft also announced that G. Mason
Morfit, president and chief investment officer of ValueAct
Capital, will not seek re-election to the board. His current term
expires at the annual shareholders meeting in November.
"Mason has been a valuable adviser at an important time in
Microsoft's transformation, and we are grateful for his
contributions," Thompson said.
Other board members include John W.
Thompson, Microsoft independent chairman; William H. Gates, Microsoft founder and
technology advisor; Reid Hoffman,
partner at Greylock Partners; Teri L.
List-Stoll, executive vice president and chief financial
officer of Gap Inc.; Satya Nadella,
chief executive officer of Microsoft; Charles H. Noski, former vice chairman of Bank
of America Corp.; Dr. Helmut Panke,
former chairman of the board of management at BMW AG; Sandra E. Peterson, group worldwide chairman for
Johnson & Johnson; Charles W.
Scharf, chief executive officer of The Bank of New York
Mellon Corp.; John W. Stanton,
chairman of Trilogy Equity Partners; and Padmasree Warrior, CEO and chief development
officer of NIO USA Inc.
Microsoft (Nasdaq "MSFT" @microsoft) is the leading platform and
productivity company for the mobile-first, cloud-first world, and
its mission is to empower every person and every organization on
the planet to achieve more.
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SOURCE Microsoft Corp.