Alphabet issues first-ever dividend, $70 billion buyback
Publishing timestamp: 2024-04-25 18:15:38
Summary
Alphabet announced its first-ever dividend of 20 cents per share and a $70 billion share repurchase, leading to a 15% increase in its stock price. This move follows Meta Platforms' decision to pay a dividend in February. Investors have been rewarding tech companies for cost-cutting measures and returning value to shareholders through buybacks and dividends. Amazon, on the other hand, has never issued a dividend close to the size of Google's.
Sentiment: POSITIVE
Tickers: GOOGL,
Keywords: alphabet inc, business news, dividends, weather, enterprise, eric schmidt, breaking news: technology,
Source: https://www.cnbc.com/2024/04/25/alphabet-issues-first-ever-dividend-70-billion-buyback.html