Microsoft's cash reserve at $49 billion
SeattlePI | at | by Mike
Another strong quarter of earnings helped push Microsoft's legendary cash stockpile to more than $49 billion, but the company resisted pressure to give more of that money back to its shareholders in the form of a larger dividend.
Microsoft yesterday reported net income of $1.92 billion, or 18 cents a share, for its fourth fiscal quarter ended June 30. That was an increase of more than 25 percent compared with its net income of $1.53 billion, or 14 cents a share, in the same quarter last year.
But the Redmond software company did not boost its annual dividend beyond the 8 cents a share it announced earlier this year. That possibility received widespread attention leading up to the earnings release, including a Barron's magazine cover urging Microsoft Chairman Bill Gates -- drawn clutching a bag of money -- to "share the wealth."