Microsoft raised its quarterly dividend to 98 cents from 91 cents, continuing a pattern of announcing higher payouts every September.

Last year's increase was from 83 cents.

The new payout, equal to $3.92 a year, would provide an annual yield of 0.79% based on Tuesday's closing price of $497.12. Shares were recently at $498.30 after hours.

The dividend is payable Dec. 10 to shareholders of record Nov. 19.