STOCKHOLDERS' EQUITY

12 Months Ended

Jun. 30, 2011

STOCKHOLDERS' EQUITY

NOTE 18 — STOCKHOLDERS’ EQUITY

Shares Outstanding

Shares of common stock outstanding were as follows:

(In millions)
Year Ended June 30,	2011			2010			2009
Balance, beginning of year		8,668			8,908			9,151
Issued		155			140			75
Repurchased		(447	)		(380	)		(318	)
Balance, end of year		8,376			8,668			8,908

Share Repurchases

On September 22, 2008, we announced the completion of the two repurchase programs approved by our Board of Directors during the first quarter of fiscal year 2007 to buy back up to $40.0 billion of Microsoft common stock. On September 22, 2008, we also announced that our Board of Directors approved a new share repurchase program authorizing up to $40.0 billion in share repurchases with an expiration date of September 30, 2013. As of June 30, 2011, approximately $12.2 billion remained of the $40.0 billion approved repurchase amount. The repurchase program may be suspended or discontinued at any time without prior notice.

We repurchased the following shares of common stock under the above-described repurchase plans using cash resources:

(In millions)	Shares		Amount		Shares		Amount		Shares		Amount
Year Ended June 30,			2011 (a)				2010 (a)				2009  (b)
First quarter		163	$	4,000		58	$	1,445		223	$	5,966
Second quarter		188		5,000		125		3,583		95		2,234
Third quarter		30		827		67		2,000		0		0
Fourth quarter		66		1,631		130		3,808		0		0
Total		447	$	11,458		380	$	10,836		318	$	8,200

(a) All shares repurchased in fiscal years 2011 and 2010 were repurchased under the plan approved by our Board of Directors on September 22, 2008.

(b) Of the 318 million shares of common stock repurchased in fiscal year 2009, 101 million shares were repurchased for $2.7 billion under the plan approved by our Board of Directors during the first quarter of fiscal year 2007. The remaining shares were repurchased under the plan approved by our Board of Directors on September 22, 2008.

Dividends

In fiscal year 2011, our Board of Directors declared the following dividends:

Declaration Date	Dividend Per Share		Record Date		Total Amount		Payment Date
					(In millions)
September 21, 2010	$	0.16		November 18, 2010	$	1,363		December 9, 2010
December 15, 2010	$	0.16		February 17, 2011	$	1,349		March 10, 2011
March 14, 2011	$	0.16		May 19, 2011	$	1,350		June 9, 2011
June 15, 2011	$	0.16		August 18, 2011	$	1,340		September 8, 2011

The dividend declared on June 15, 2011 will be paid after the filing date of this report on Form 10-K and was included in other current liabilities as of June 30, 2011.

In fiscal year 2010, our Board of Directors declared the following dividends:

Declaration Date	Dividend Per Share		Record Date		Total Amount		Payment Date
					(In millions)
September 18, 2009	$	0.13		November 19, 2009	$	1,152		December 10, 2009
December 9, 2009	$	0.13		February 18, 2010	$	1,139		March 11, 2010
March 8, 2010	$	0.13		May 20, 2010	$	1,130		June 10, 2010
June 16, 2010	$	0.13		August 19, 2010	$	1,118		September 9, 2010

The dividend declared on June 16, 2010 was included in other current liabilities as of June 30, 2010.