Alphabet announced on Thursday 25th April 2024 that it is issuing its first-ever dividend of 20 cents per share and that its board has authorised a stock repurchase of up to $70 billion.
This announcement follows Meta’s board authorising its own inaugural dividend in February. As of 31st March 2024, Alphabet, the parent company of Google, had $108 billion in cash and marketable securities.
After the announcement, which coincided with the release of first-quarter earnings that surpassed expectations, shares surged by 15% in after-hours trading.
Alphabet trading chart 25th April 2024
