Meta founder and CEO Mark Zuckerberg speaks throughout the Meta Connect occasion at Meta headquarters in Menlo Park, California, on Sept. 27, 2023.
Josh Edelson | AFP | Getty Images
Meta introduced on Thursday that it’s going to pay a quarterly dividend for the primary time, and stated it licensed an expanded $50 billion share buyback program.
The firm pays a per-share dividend of fifty cents, becoming a member of friends Apple, Microsoft and Oracle, which all have common payouts. The board intends to subject a money dividend on a quarterly foundation, “topic to market circumstances.”
Meta introduced the information alongside its fourth-quarter financials, which topped estimates on the highest and backside strains.
Shares rose greater than 14% in prolonged buying and selling. The dividend will probably be paid in March to all shareholders of document as of February 22.
The after-market rally continues a increase in Meta’s inventory after the corporate’s market cap virtually tripled in 2023. The inventory eclipsed its 2021 document final month
With a present market capitalization of $1 trillion, the expanded authorization is equal to round 5% of shares excellent. The firm had $30.9 billion out there for share repurchases as of December.
Neither Amazon nor Alphabet have ever paid a dividend. Microsoft issued its first dividend in 2003, whereas Oracle’s was initiated in 2009.