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For the first time in its history, Alphabet announced a dividend payment of 20% per share. In addition, its board of directors authorized share buybacks worth up to $70 billion.

According to CNBC, dividends are paid for all share classes. Including shareholders who have voting rights (class B) and those who do not have such rights (class C). But most Google investors own Class A shares.

All shareholders of record as of June 10 will receive dividends in the same month. We know that:

co-founder Sergey Brin , who owns more than 730 million shares of classes B and C, will receive a payment in the amount of $146 million. co-founder Larry Page , who owns 389 million shares of class B, will receive dividends in the amount of $78 million.

Reuters quotes the words of the senior analyst of Investing Thomas Monteiro. He said dividend payments and share buybacks amid strong earnings growth were «a very smart strategy for a struggling search giant.». Alphabet beat expectations for the quarter in sales, profit and advertising.

According to Alphabet's report, in the first quarter of 2024 they received a turnover of $80.54 billion. And the net profit of the company increased to $23.66 billion.

According to Reuters, shares of Alphabet rose nearly 16% after the report, increasing the company's market value by about $300 billion to more than $2 trillion.