Microsoft Declares Regular Quarterly Dividend on Preferred Shares
REDMOND, Wash., May 15, 1998 — Microsoft Corp. today announced it has declared a dividend of $0.549 per share on its 2 3/4 percent Convertible Exchangeable Principal-Protected Preferred Shares, Series A (
“Series A Preferred Shares”
), to holders of record on
June 1, 1998. The dividend will be paid on June 15, 1998.
In December 1996, Microsoft issued $1 billion of Series A Preferred Shares.
As a result of the 2 for 1 stock split of the Microsoft® Common Shares, which was completed on Feb. 20, 1998, the basic exchange ratio at which the Series A Preferred Shares may be converted into Microsoft Common Shares or cash on Dec. 15, 1999, was adjusted to 2.0, provided that in no event will the Microsoft Common Shares or cash equal more than $102.24 or less than $79.875 per Series A Preferred Share.
The 2 for 1 split does not result in any other change to the terms of the outstanding Series A Preferred Shares.
Founded in 1975, Microsoft (Nasdaq
) is the worldwide leader in software for personal computers. The company offers a wide range of products and services for business and personal use, each designed with the mission of making it easier and more enjoyable for people to take advantage of the full power of personal computing every day.
Microsoft is either a registered trademark or a trademark of Microsoft Corp. in the United States and/or other countries.
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