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provide an overview of MICROSOFT CORPORATION ( MSFT ) payout policy in the past five years. Which percentage of the company s earnings was distributed

provide an overview of MICROSOFT CORPORATION (MSFT) payout policy in the past five years. Which percentage of the companys earnings was distributed to investors as dividends? Which percentage of earnings was reinvested in the company? Did the company engage in dividend smoothing? Did the company do any share repurchases in recent years? (One way to find out about share repurchases is to investigate any changes in number of outstanding shares on the companys balance sheets between different years). Why did the company make these decisions?

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