Microsoft’s board declared a quarterly dividend of $0.98 per share, up 7 cents, or 8%, from the previous quarter, bringing the annual payout to $3.92 per share and implying a 0.78% yield. The dividend is payable Dec. 10, 2026, to shareholders of record on Nov. 19, 2026, which is also the ex-dividend date. The increase is below Microsoft’s approximately 10% five-year average annual raise. Microsoft spent $41 billion on capital expenditures in the fourth fiscal quarter and $145 billion during the fiscal year as it expands AI infrastructure, including Azure capabilities and Copilot. Shares traded at $496.03 in Wednesday premarket trading, down 0.2% after falling 1.6% Tuesday. Morgan Stanley analyst Adam Wood said management views dividends as a permanent commitment while balancing AI investment and share repurchases. Microsoft will hold its 2026 Annual Shareholders Meeting virtually on Dec. 8, with voting rights available to shareholders of record at the close of business on Sept. 30, 2026. Satya Nadella, chairman and chief executive officer; Amy Hood, executive vice president and chief financial officer; Brad Smith, vice chair and president; and Sandra E. Peterson, Microsoft lead independent director, will host the meeting.