Alphabet issues first ever dividend, $70 billion buyback

NBC News— Alphabet said Thursday that it’s issuing a 20-cent per share dividend, the company’s first ever, and that its board authorized the repurchase of up to $70 billion in stock. The company’s move comes after Meta’s board authorized its first ever dividend in February. Google’s parent company had $108 billion in cash and marketable securities on hand as of March 31, 2024. Shares shot up 15% in after hours trading. The news was announced alongside better-than-expected first-quarter earnings. Alphabet...

CNBC—Alphabet issues first-ever dividend, $70 billion buyback. Google issued its first-ever dividend of 20 cents and authorized a $70 billion share repurchase program alongside its first-quarter earnings.

WSJ—Google Parent Alphabet to Issue Cash Dividend for First Time, Does Another $70 Billion Stock Buyback. Parent company Alphabet reported $80.5 billion in first-quarter revenue, a 15% increase from a year earlier, as the company said it plans to pay a cash dividend to investors for the first time.

usanewsgroup.com—Alphabet soars most since 2015 on strong earnings, first dividend and $70 billion buyback. Alphabet shares shot up 10% on Friday after the company posted better-than-expected first-quarter results and greenlit its first-ever dividend and a $70 billion buyback. It’s the sharpest rally for the stock since a 16% jump in July 2015. The shares closed the day at $171.95, valuing Alphabet at over $2.1 trillion. The company on Thursday reported revenue of $80.54 billion, […]