MICROSOFT CORP | 2013 | FY | 3


NOTE 18 — STOCKHOLDERS’ EQUITY

Shares Outstanding

Shares of common stock outstanding were as follows:

 

(In millions)                   


Year Ended June 30,    2013     2012     2011  

Balance, beginning of year

     8,381        8,376        8,668   

Issued

     105        147        155   

Repurchased

     (158     (142     (447


 


 


Balance, end of year

     8,328        8,381        8,376   
    


 


 


Share Repurchases

On September 22, 2008, we announced that our Board of Directors approved a share repurchase program authorizing up to $40.0 billion in share repurchases with an expiration date of September 30, 2013. As of June 30, 2013, approximately $3.6 billion of the approved repurchase amount remained. The repurchase program may be suspended or discontinued at any time without prior notice.

We repurchased the following shares of common stock under the above-described repurchase plan using cash resources:

 

(In millions)    Shares     Amount      Shares     Amount      Shares     Amount  


Year Ended June 30,              2013                 2012                 2011   

First quarter

     33        $ 1,000         38        $ 1,000         163        $ 4,000   

Second quarter

     58        1,607         39        1,000         188        5,000   

Third quarter

     36        1,000         31        1,000         30        827   

Fourth quarter

     31        1,000         34        1,000         66        1,631   


 


  


 


  


 


Total

     158      $   4,607         142      $   4,000         447      $   11,458   
    


 


  


 


  


 


 

Dividends

In fiscal year 2013, our Board of Directors declared the following dividends:

 

Declaration Date   

Dividend

Per Share

    Record Date     Total Amount      Payment Date  


                 (In millions)         

September 18, 2012

   $   0.23          November 15, 2012        $   1,933         December 13, 2012   

November 28, 2012

   $ 0.23        February 21, 2013      $ 1,925         March 14, 2013   

March 11, 2013

   $ 0.23        May 16, 2013      $ 1,921         June 13, 2013   

June 12, 2013

   $ 0.23        August 15, 2013      $ 1,916         September 12, 2013   

The dividend declared on June 12, 2013 will be paid after the filing date of this report on Form 10-K and was included in other current liabilities as of June 30, 2013.

In fiscal year 2012, our Board of Directors declared the following dividends:

 

Declaration Date   

Dividend

Per Share

    Record Date     Total Amount      Payment Date  


                 (In millions)         

September 20, 2011

   $   0.20          November 17, 2011        $   1,683         December 8, 2011   

December 14, 2011

   $ 0.20        February 16, 2012      $ 1,683         March 8, 2012   

March 13, 2012

   $ 0.20        May 17, 2012      $ 1,678         June 14, 2012   

June 13, 2012

   $ 0.20        August 16, 2012      $ 1,676         September 13, 2012   

The dividend declared on June 13, 2012 was included in other current liabilities as of June 30, 2012.


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