MSFT · 10-K · 2025A · Full report
Capital Return Program
MICROSOFT CORP · 2025-07-30 · Importance 54 · Surprise 14
During fiscal 2025 Microsoft repurchased 31 million shares for $13.0 billion (versus $12.0 billion in fiscal 2024) under its share repurchase program, with all repurchases made using cash resources. As of June 30, 2025, $57.3 billion remained available under the company’s $60.0 billion repurchase authorization. Dividends declared totaled $24.7 billion for fiscal 2025 and management intends to continue returning capital to shareholders subject to board declaration. Management indicates share repurchases and dividends are funded from cash resources and are part of the company’s ongoing capital allocation priorities.
Key facts
- As of June 30, 2025, $57.3 billion remained available under Microsoft’s $60 billion share repurchase program.
- Cash used in financing increased $13.9 billion to $51.7 billion for fiscal year 2025, primarily due to a $9.5 billion increase in cash used for repayments of debt, net of proceeds.
- During fiscal years 2025 and 2024, the Board declared dividends totaling $24.7 billion and $22.3 billion, respectively.
- During fiscal years 2025 and 2024, Microsoft repurchased 31 million and 32 million shares, respectively, for $13.0 billion and $12.0 billion, respectively.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | realized | -4.0% | During fiscal years 2025 and 2024, the Board declared dividends totaling $24.7 billion and $22.3 billion, respectively. |
| cash | negative | realized | -2.3% | Cash used in financing increased $13.9 billion to $51.7 billion for fiscal year 2025, primarily due to a $9.5 billion increase in cash… |
| cash | negative | realized | -2.1% | During fiscal years 2025 and 2024, Microsoft repurchased 31 million and 32 million shares, respectively, for $13.0 billion and $12.0… |
| liability | positive | realized | +1.5% | Cash used in financing increased $13.9 billion to $51.7 billion for fiscal year 2025, primarily due to a $9.5 billion increase in cash… |