Meta has announced its first-ever quarterly dividend of 50 cents per share and authorized a $50 billion share buyback program, CNBC reports.
The move follows the company’s strong fourth-quarter financial results, which exceeded estimates, leading to a more than 14% rise in shares during extended trading. The company’s market capitalization tripled in 2023, reaching $1 trillion. The expanded buyback program, equal to about 5% of outstanding shares, with $30.9 billion available for repurchases as of December.
The quarterly dividend will be subject to market conditions, with the first payment scheduled for March to shareholders of record as of Feb. 22. This move aligns Meta with peers Apple, Microsoft, and Oracle, all of which have regular dividend payouts.
