Meta to pay first-ever dividend as quarterly profits triple
Clare Duffy, CNN | 2/1/2024, 3:51 p.m.
Meta announced its first-ever cash dividend of $0.50 per share to be paid out on March 26 to shareholders of record as of February 22, as well as a $50 billion share buyback.
Mandatory Credit: Andrej Sokolow/dpa/picture alliance/Getty Images
Meta’s “year of efficiency” paid off in a big way.
The tech giant on Thursday reported that profits from the three months ended in December grew more than 200% to $14 billion, or $5.33 per share, exceeding Wall Street analysts’ expectations.
The company also announced its first-ever cash dividend of $0.50 per share to be paid out on March 26 to shareholders of record as of February 22, as well as a $50 billion share buyback.
“We intend to pay a cash dividend on a quarterly basis going forward,” the company said in a release.
The news sent Meta (META) shares popping more than 12% in after-hours trading Thursday.
