50 cents (39p) is the freshly announced dividend per share. Existing investors will profit from a $50 billion (£39 billion) share buyback scheme. For Meta, which saw a collapse in 2022 that destroyed more than three-quarters of its value, it represents a swift recovery.
The IT giant’s stock increased by over 15%, raising its valuation to over £110 billion. In context, the increase alone is five times greater than the total worth of its competitor Snap.
For the first time in more than two years, Meta has been on a winning streak in recent weeks. In its most recent statistics, its financial performance exceeded expectations.
According to analysts, the corporation had one of its best quarters ever, with revenue in the last three months of 2023 increasing by 25% to $40.1 billion (£31.5 billion).
In the meantime, Meta’s net income surged by more than 200% to $14 billion ($11 billion), driven by the company’s aggressive cost-cutting push that resulted in the loss of 21,000 jobs, user growth, and a rebound in ad sales.
The recently declared dividend is 50 cents (39p) per share, and existing investors will also profit from a $50 billion (£39 billion) share buyback scheme.
Meta has experienced a swift recovery after experiencing a stock market collapse in 2022 that resulted in the loss of more than 75% of its initial investment.
Facebook will celebrate its 20th anniversary on Sunday. Since its founding as a dorm room website, the platform has grown to become a social network with billions of users.
WhatsApp and Instagram are also owned by Meta.
