Microsoft's share repurchase program, which has no expiration date, replaces its previous $60 billion authorization announced four years ago. Meanwhile, investors also cheered the news that shareholders of record as of Nov. 21 will receive a quarterly dividend of 83 cents per share, up from the current 75 cents a share.

Microsoft Corp (NASDAQ:MSFT) stock is up 2.3% to trade at $441.13 this morning, propping up the Dow, after the blue-chip tech titan announced a new $60 billion share buyback plan. Microsoft also hiked its quarterly dividend by 10.7% to 83 cents per share.

Tech giant Microsoft revealed that its board of directors approved a new $60 billion stock-buyback program. The repurchase program has no expiration date and may be terminated at any time, according to the company’s statement.

Microsoft's latest share repurchase plan is expected to please income-oriented investors. Is it the right time to buy the MSFT stock?

Microsoft Corp. announced a 10% increase in its quarterly dividend and launched a new $60 billion stock buyback program, matching the size of its repurchase plan from three years ago.