Alphabet's new dividend is helping reassure Meta-spooked tech investors [Business Insider]
Alphabet Inc. - Class C Capital Stock (GOOG)
Last alphabet inc. - class c capital stock earnings: 4/28 04:02 pm
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Source: Business Insider
The news could ease concerns of some tech investors spooked by Meta's earnings Wednesday. Alphabet is becoming a member of the dividend club. In its first-quarter earnings report on Thursday, Google's parent company said it's issuing a $0.20 per share dividend, its first ever. It'll be paid on June 17 to stockholders of record as of June 10, and Alphabet plans to pay quarterly dividends in the future, the earnings release said . The company also authorized an additional $70 billion in stock buybacks. Its earnings also helped buoy the shares. It reported total revenue of $80.54 billion in the first quarter, beating estimates. That's about a 15% year-over-year increase. Following the news, Alphabet's stock rose roughly 13% in after-hours trading. It joins fellow tech companies like Microsoft, Apple, and Meta in issuing dividends. Meta announced a dividend of $0.50 per share, also its first ever, in February, as well as its own buyback boost of $50 billion. Alphabet's anno
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