Microsoft Corp. raises dividend 15 percent

Microsoft Corp. quarterly dividend will be 23 cents. Shares of Microsoft Corp. fall slightly.

Brendan McDermid/Reuters
Microsoft CEO Steve Ballmer displays the HTC Windows Phone 8X (R) and the Windows Phone 8S (L) during their launch event in New York Sept. 19, 2012. Microsoft has announced its boosting its quarterly dividend from 20 cents to 23 cents.

Microsoft Corp. says it is increasing its quarterly dividend by 15 percent.

The Redmond, Washington-based software company said Tuesday that it will pay a dividend of 23 cents on Dec. 13 to shareholders of record as of Nov. 15.

That is up from its prior-quarter dividend of 20 cents.

Microsoft also said that long-time board member Raymond Gilmartin will retire. The 71-year old former CEO of Merck & Co. has served on Microsoft's board for 11 years. Gilmartin said he is reducing his professional commitments to have more personal time.

Gilmartin will serve until the next annual meeting, usually held in November. The company's board will then have 10 members.

Shares of Microsoft fell 4 cents to close at $31.17.

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