Financial Review
QUARTERLY STOCK PRICE INFORMATION, ISSUER PURCHASES OF EQUITY SECURITIES, DIVIDENDS, AND STOCK PERFORMANCE
Our common stock is traded on the NASDAQ Stock Market under the symbol MSFT. On July 18, 2012, there were 128,992 registered holders of record of our common stock. The high and low common stock sales prices per share were as follows:
| Quarter Ended | September 30 | December 31 | March 31 | June 30 | Fiscal Year | ||||
| Fiscal Year 2012 | |||||||||
| High | $ 28.15 | $ 27.50 | $ 32.95 | $ 32.89 | $ 32.95 | ||||
| Low | $ 23.79 | $ 24.26 | $ 26.39 | $ 28.32 | $ 23.79 | ||||
| Fiscal Year 2011 | |||||||||
| High | $ 26.41 | $ 28.87 | $ 29.46 | $ 26.87 | $ 29.46 | ||||
| Low | $ 22.73 | $ 23.78 | $ 24.68 | $ 23.65 | $ 22.73 |
SHARE REPURCHASES AND DIVIDENDS
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, 2012, approximately $8.2 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, | 2012 | 2011 | 2010 | ||||||||
| First quarter | 38 | $ 1,000 | 163 | $ 4,000 | 58 | $ 1,445 | |||||
| Second quarter | 39 | 1,000 | 188 | 5,000 | 125 | 3,583 | |||||
| Third quarter | 31 | 1,000 | 30 | 827 | 67 | 2,000 | |||||
| Fourth quarter | 34 | 1,000 | 66 | 1,631 | 130 | 3,808 | |||||
| Total | 142 | $ 4,000 | 447 | $ 11,458 | 380 | $ 10,836 |
Dividends
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 will be paid after the filing of our report on Form 10-K and was included in other current liabilities as of June 30, 2012. In fiscal year 2011, our Board of Directors declared the following dividends: |
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| Declaration Date | Dividend Per Share |
Record Date | Total Amount | Payment Date |
| (In millions) | ||||
| September 21, 2010 | $ 0.16 | November 18, 2010 | $ 1,363 | December 9, 2010 |
| December 15, 2010 | $ 0.16 | February 17, 2011 | $ 1,349 | March 10, 2011 |
| March 14, 2011 | $ 0.16 | May 19, 2011 | $ 1,350 | June 9, 2011 |
| June 15, 2011 | $ 0.16 | August 18, 2011 | $ 1,341 | September 8, 2011 |
The dividend declared on June 15, 2011 was included in other current liabilities as of June 30, 2011.
STOCK PERFORMANCE
COMPARISON OF 5 YEAR CUMULATIVE TOTAL RETURN*
Among Microsoft Corporation, the S&P 500 Index, and the NASDAQ Computer Index
| 6/07 | 6/08 | 6/09 | 6/10 | 6/11 | 6/12 | ||||||
| Microsoft Corporation | 100.00 | 94.69 | 83.82 | 82.69 | 95.69 | 115.66 | |||||
| S&P 500 Index | 100.00 | 86.88 | 64.10 | 73.35 | 95.87 | 101.09 | |||||
| NASDAQ Computer | 100.00 | 96.38 | 93.36 | 102.86 | 139.68 | 162.75 |
* $100 invested on 6/30/07 in stock or index, including reinvestment of dividends
