Microsoft had two pieces of good news for investors this morning. The world’s second most valuable company is increasing its shareholder payout by 10% and launching a $60 billion share buyback program.

The grants will go to organizations that partake in efforts to aid communities and neighborhoods in need, protect civic and iconic places, and more.

Microsoft said on Monday its board has approved a new share buy back program of up to $60 billion. The tech giant declared a quarterly dividend of $0.83 per share, reflecting an 8 cent, or 10%, increase over the previous quarter.

Key Takeaways Microsoft on Monday announced a $60 billion stock buyback program and a 10% boost to its quarterly dividend. The moves come as Microsoft faces pressure to show its spending on artificial intelligence (AI) is paying off.