Meta will reward shareholders with its first-ever dividend and an additional $50bn in share buybacks as bumper fourth-quarter results sent its shares up by more than 14 per cent in after-hours trading on Thursday.
The parent of Facebook and Instagram said the quarterly dividend of 50 cents per share was payable on March 26, in a sign of its continued recovery in growth after getting hit by an advertising slump in late 2022 and 2023. The jump in share price added more than $140bn in market capitalisation to Meta, whose value recently soared past $1tn.
Source: Financial Times
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