Microsoft Announces Two-for-One Split on Common Stock

Thanks robinmthomas for this alert sent in yesterday (it got stuck in my "In Tray" :P .. sorry)

Despite the news of Job Cut's in Ireland, Microsoft still seem to be riding that money train that hasn't stopped from an express route since the company's initial public offering on March 13, 1986.

Microsoft Corp. announced that its Board of Directors declared an annual dividend and approved a two-for-one split on Microsoft common stock. The annual dividend of $0.16 per share pre-split ($0.08 post-split) is payable March 7, 2003, to shareholders of record at the close of business on Feb. 21, 2003. As a result of the stock split, shareholders will receive one additional common share for every share held on the record date of Jan. 27, 2003.

"Declaring a dividend demonstrates the board's confidence in the company's long-term growth opportunities and financial strength. We are especially pleased to be able to return profits to our shareholders, while maintaining our significant investment in research and development and satisfying our long-term capital requirements," said John Connors, chief financial officer at Microsoft.

News source: Microsoft PressPass for the rest of the story