Alphabet has announced its first-ever dividend of 20 cents per share and a new $70 billion share repurchase. This news announced alongside better-than-expected first-quarter earnings, sent Alphabet’s shares up more than 12%. Alphabet joins Meta as the latest of the large-cap tech companies to begin paying a dividend. The company had $108 billion in cash and marketable securities on hand as of March 31, 2024. The dividend is payable to all classes of shares, including super-voting Class B shareholders, as well as non-voting 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.
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