MSFT · 10-Q · 2026Q1 · Full report
Capital Return Program
MICROSOFT CORP · 2026-04-29 · Importance 49 · Surprise 6 · In source text
During the nine months ended March 31, 2026, Microsoft repurchased 27 million shares for $13.3 billion and declared dividends totaling $20.3 billion, continuing an active capital return policy. As of March 31, 2026, $44.0 billion remained available under the $60 billion share repurchase authorization. Management states it intends to continue returning capital to shareholders through dividends and repurchases, subject to board decisions and available cash. The repurchase and dividend activity are funded from cash resources and are highlighted as material uses of capital in fiscal 2026.
Key facts
- Share repurchases for the nine months ended March 31, 2026 were 27 million shares for $13.3 billion; for the nine months ended March 31, 2025 were 23 million shares for $9.8 billion. source
- As of March 31, 2026, $44.0 billion remained of our $60 billion share repurchase program. source
- Cash used in financing decreased $88 million to $40.8 billion for the nine months ended March 31, 2026. source
- For the nine months ended March 31, 2026 and 2025, the Board declared dividends totaling $20.3 billion and $18.5 billion, respectively. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| cash | negative | committed | -5.4% | As of March 31, 2026, $44.0 billion remained of our $60 billion share repurchase program. |
| cash | negative | realized | -2.9% | For the nine months ended March 31, 2026 and 2025, the Board declared dividends totaling $20.3 billion and $18.5 billion, respectively. |
| cash | negative | realized | -1.9% | Share repurchases for the nine months ended March 31, 2026 were 27 million shares for $13.3 billion; for the nine months ended March 31,… |
| cash | positive | realized | +0.0% | Cash used in financing decreased $88 million to $40.8 billion for the nine months ended March 31, 2026. |