Stock

When the company debuted its IPO in March 13, 1986, the stock price was US$21. By the close of the first trading day, the stock had closed at twenty-eight dollars, equivalent to 9.7 cents when adjusted for the company's first nine splits. The initial close and ensuing rise in subsequent years made several Microsoft employees millions. The stock price peaked in 1999 at around US$119 (US$60.928 adjusting for splits). While the company has had nine stock splits, the first of which was in September 18, 1987, the company did not start offering a dividend until January 16, 2003. The dividend for the 2003 fiscal year was eight cents per share, followed by a dividend of sixteen cents per share the subsequent year. The company switched from yearly to quarterly dividends in 2005, for eight cents a share per quarter with a special one-time payout of three dollars per share for the second quarter of the fiscal year.

Around 2003 the stock price began a slow descent. Despite the company's ninth split on February 2, 2003 and subsequent increases in dividend payouts, the price of Microsoft's stock continues to stagnate as of June 2006.