{"id":26530,"date":"2024-04-26T04:42:04","date_gmt":"2024-04-26T09:42:04","guid":{"rendered":"https:\/\/ustower.net\/?p=26530"},"modified":"2024-04-26T04:42:17","modified_gmt":"2024-04-26T09:42:17","slug":"alphabet-issues-first-ever-dividend-70-billion-buyback","status":"publish","type":"post","link":"https:\/\/ustower.net\/?p=26530","title":{"rendered":"Alphabet issues first ever dividend, $70 billion buyback"},"content":{"rendered":"\n<p class=\"has-medium-font-size\"><a href=\"https:\/\/www.cnbc.com\/quotes\/GOOGL\/\">Alphabet<\/a>&nbsp;<a href=\"https:\/\/abc.xyz\/assets\/91\/b3\/3f9213d14ce3ae27e1038e01a0e0\/2024q1-alphabet-earnings-release-pdf.pdf\">said Thursday<\/a>&nbsp;that it\u2019s issuing a 20-cent per share dividend, the company\u2019s first ever, and that its board authorized the repurchase of up to $70 billion in stock.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">The company\u2019s move comes after Meta\u2019s board authorized its first ever dividend in February. Google\u2019s parent company had $108 billion in cash and marketable securities on hand as of March 31, 2024.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Shares shot up 15% in after hours trading. The news was announced alongside better-than-expected&nbsp;<a href=\"https:\/\/www.cnbc.com\/2024\/04\/25\/alphabet-set-to-report-first-quarter-results-after-market-close.html\">first-quarter earnings<\/a>.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Alphabet&nbsp;<a href=\"https:\/\/www.cnbc.com\/2023\/04\/25\/google-authorizes-70-billion-buyback.html\">authorized an identically sized repurchase<\/a>&nbsp;exactly one year ago, during a period of intense cost-cutting and layoffs.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">The dividend is payable to all class of shares, including super-voting Class B shareholders, as well as nonvoting Class C shareholders. Most Google investors own the company through Class A shares. All shareholders of record as of June 10 will receive the dividend the same month.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Co-founder Sergey Brin, who owns more than 730 million Class B and C shares, will receive a $146 million payout. Co-founder Larry Page, who owns 389 million Class B shares, will get a dividend payment of $78 million.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Investors have been looking for signs of maturity from technology firms. Every major tech firm announced layoffs and tightened spending beginning in 2022. Investors rewarded those efforts, and have shown a similar reaction to share buybacks and dividend initiations. When Meta announced its first ever dividend in February, it helped send shares soaring more than 14%.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Notably, Amazon has never issued a dividend, nor has it ever authorized a share buyback close to the size of Google\u2019s. Amazon\u2019s largest share repurchase, in 2022, was for up to $10 billion.<\/p>\n\n\n\n<p class=\"has-medium-font-size\">Amazon is slated to report first-quarter earnings Tuesday.<\/p>\n\n\n\n<p class=\"has-medium-font-size\"><a href=\"https:\/\/www.nbcnews.com\/tech\/tech-news\/alphabet-issues-first-ever-dividend-70-billion-buyback-rcna149427\">Nbcnews<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Alphabet&nbsp;said Thursday&nbsp;that it\u2019s issuing a 20-cent per share dividend, the company\u2019s first ever, and that its board authorized the repurchase of up to $70 billion in stock. The company\u2019s move comes after Meta\u2019s board authorized its first ever dividend in February. Google\u2019s parent company had $108 billion in cash and marketable securities on hand as [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":26531,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5783],"tags":[28047,28049,28046,28048,1406],"class_list":["post-26530","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sci-tech","tag-70-billion","tag-alphabet","tag-buybacks","tag-dividends","tag-stocks"],"_links":{"self":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/26530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=26530"}],"version-history":[{"count":1,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/26530\/revisions"}],"predecessor-version":[{"id":26532,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/26530\/revisions\/26532"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/media\/26531"}],"wp:attachment":[{"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=26530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=26530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=26530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}