Mark Zuckerberg Set To Pocket $700M Annually As Meta Declares First-Ever Dividend
Portfolio Pulse from Benzinga Neuro
Meta Platforms Inc (NASDAQ:META) has announced its first-ever quarterly cash dividend of 50 cents per share, starting in March. This move is expected to yield CEO Mark Zuckerberg an estimated $700 million annually, based on his 350 million shares. The decision reflects Meta's growth outlook, despite the tech firm's reduced acquisition opportunities due to regulatory challenges. Meta's focus shift and a $50 billion share buyback plan have contributed to its stock nearly tripling in value in 2023. Additionally, Meta reported a 25% year-over-year increase in fourth-quarter revenue to $40.11 billion, surpassing consensus estimates.
February 02, 2024 | 4:37 am
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Meta Platforms Inc announces its inaugural dividend and reports a significant year-over-year revenue increase, indicating strong financial health and investor confidence.
The announcement of Meta's first-ever dividend and a substantial $50 billion share buyback plan are strong indicators of the company's financial health and growth prospects. These moves, coupled with a significant year-over-year revenue increase, are likely to boost investor confidence and potentially lead to a short-term increase in stock price. The company's resilience and strategic focus on AI and the metaverse further underscore its growth trajectory.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100