Microsoft shareholders cleared the way for the world's largest software maker to pay out the largest corporate dividend ever next month and welcomed news of a blockbuster first day of sales for its video game Halo 2.
Shareholders approved changes to Microsoft's stock-based employee compensation plans that would maintain the value of stock options and awards, allowing the company to go forward with a $3 per share, or $32 billion, special dividend.
The annual meeting was held as first-day sales of Halo 2, Microsoft's new video game for its Xbox video game machine reached $100 million, highlighting Microsoft's efforts to grow beyond its Windows and Office software lines.
Microsoft executives spoke at length on the company's growth prospects, including plans to beat Google in search services to double advertising revenue over the next five years from $360 million in fiscal 2004.
"We will catch up; we will surpass," Microsoft chief executive Steve Ballmer told shareholders at the annual meeting.
"I honestly feel today more confident about our prospects and growth opportunities," Mr Ballmer said, although he also admitted that Microsoft's size was making it harder to grow faster.
Microsoft posted more than $36.8 billion in revenue in its latest fiscal year. The resulting cash pile, which grew to nearly $60 billion, led to investors pressuring the company to return funds to shareholders; and in July, Microsoft announced the one-time dividend, along with a doubling of its annual dividend and a four-year share buyback plan.
The special dividend is payable on December 2nd for shareholders of record on November 17th.