(Bloomberg) -- Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg stands to receive a payout of about $700 million a year from the social media giant’s first-ever dividend for investors.Most Read from BloombergDonald Trump Loses London Case Against Ex-MI6 Spy Over Kremlin DossierA $560 Billion Property Warning Hits Banks From NY to TokyoQQQ Up in Late Trading as Meta Soars, Apple Falls: Markets WrapApple’s China Slump Deepens Even as Total Sales Grow AgainLewis Hamilton to Join Ferrari
(Bloomberg) — Meta Platforms Inc. Chief Executive Officer Mark Zuckerberg stands to receive a payout of about $700 million a year from the social media giant’s first-ever dividend for investors.
Most Read from Bloomberg
Meta announced a quarterly cash dividend of 50 cents a share for Class A and B common stock beginning in March. With Zuckerberg holding about 350 million shares, he would take home about $175 million in each quarterly payment before taxes, according to data compiled by Bloomberg.
Meta’s move to pay a dividend sends a signal about the company’s view of its growth potential. Often, faster-growing tech companies eschew dividends in favor of using earnings to develop new products or make expensive acquisitions. While Meta is spending big on artificial intelligence initiatives, its acquisition prospects are dwindling in the face of regulatory opposition.
After Meta fired about 21,000 people and narrowed its priorities, the stock almost tripled in 2023. The new dividend and an additional $50 billion in share buybacks may win more patience from investors with Zuckerberg’s long-term bets on artificial intelligence and the metaverse.
Zuckerberg took home $27.1 million in total compensation in 2022, including private security costs and a base salary of $1, according to filings. Meta hasn’t yet reported executive compensation for last year.
A spokesperson for the company declined to comment.
Most Read from Bloomberg Businessweek
©2024 Bloomberg L.P.
Bloomberg
(Bloomberg) -- Meta Platforms Inc. announced plans to buy back an additional $50 billion in shares and issue its first-ever quarterly dividend as Chief Executive Officer Mark Zuckerberg works to convince investors that his costly bets on the metaverse and artificial intelligence will pay off.Most Read from BloombergDonald Trump Loses London Case Against Ex-MI6 Spy Over Kremlin DossierA $560 Billion Property Warning Hits Banks From NY to TokyoQQQ Up in Late Trading as Meta Soars, Apple Falls: Mar
The Wall Street Journal
Amazon com reported strong growth in sales and profit for the end of last year as robust holiday spending online helped extend its recovery from a postpandemic slump. The e-commerce giant on Thursday also projected continued strength in the current quarter, thanks in part to interest in artificial intelligence that it said is driving healthy sales in its cloud-computing arm. Amazon’s results, amid a flurry of other solid financial reports by big tech companies, sent its shares up sharply.
Barrons.com
Well-received earnings reports from Amazon and Meta Platforms are reverberating across the tech sector Thursday evening, with particularly strong implications for other online ad platforms and companies with strong ties to the cloud. Here's a look at some of the secondary winners and their after-hours moves on Thursday: **Social networks:** Meta posted better-than-expected ad revenue growth in the quarter, and so did Amazon. Meta is up more than 14%.
Benzinga
Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), quickly changed his perception of BYD Co. Ltd. (OTC:BYDDY), a Warren Buffett-backed Chinese carmaker that has transformed within one year. During a live Bloomberg interview last year, when Musk was asked about his competitor BYD, he laughed and responded, "Have you seen their car? ... I don’t think they have a great product." Musk said he wasn’t concerned about BYD as a serious competitor in the electric vehicle (EV) market. Don't Miss: This startup is
Reuters
Apple on Thursday reported China sales that missed Wall Street targets, overshadowing overall sales and profit that beat analysts' targets, powered by iPhone growth. Apple Chief Financial Officer Luca Maestri indicated that revenue in the current quarter would be less than a year ago, when the quarter benefited from a post-COVID boost of about $5 billion in sales. Excluding that gain last year, total and iPhone revenue in the March-ending quarter would be similar to a year earlier, he told analysts on a conference call.
Read more --->
