Meta founder and CEO Mark Zuckerberg speaks during the Meta Connect event at Meta headquarters in Menlo Park, California, on Sept. 27, 2023.
Josh Edelson | AFP | Getty Images
Meta announced Thursday that it will pay a quarterly dividend for the first time, and that it had authorized an expanded $50 billion share buyback program.
The Facebook owner will pay a 50 cent-per-share dividend, joining peers Apple, Microsoft and Oracle, all of which pay regular dividends. The board intends to issue a cash dividend on a quarterly basis, “subject to market conditions.”
The dividend will be paid in March to all shareholders of record as of February 22.
Meta announced the news simultaneously with its fourth-quarter earnings, where the company reported a strong beat on the top and bottom lines. Shares rose more than 12% on the earnings report and the news of the buyback and dividend.
The expanded share buyback authorization comes just two weeks after Meta shares eclipsed their 2021 high, breaking through $378. The company had $30.9 billion available for share repurchaases as of December 2023.
Neither Amazon nor Alphabet have ever paid a dividend. Microsoft issued its first dividend in 2003, while Oracle first issued one in 2009.