Microsoft thrills, chills investors
C|Net | at | by Mike
Microsoft's stock split and first-ever dividend weren't enough to overcome Wall Street's apprehension about the software giant's reduced projections for 2003. The company's shares fell $2.74, or almost 5 percent, to $52.60 in Friday morning trading. Microsoft did give investors something to cheer about Thursday, with the announcement of the 2-for-1 stock split and dividend. The dividend will be paid out annually at 16 cents a share, on a presplit basis. The split is the ninth since Microsoft went public in 1986. The company expects shareholders to receive their shares around Feb. 14.
But the Redmond, Wash.-based company then also tempered projections for the remainder of fiscal 2003, which ends June 30. Microsoft's trimming back on earnings comes as the company prepares to launch, during the first half of the calendar year, four major products aimed at enterprise customers.