(Bloomberg) — Meta Platforms Inc. Chief Govt Officer Mark Zuckerberg stands to obtain a payout of about $700 million a 12 months from the social media big’s first-ever dividend for traders.
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Meta introduced a quarterly money dividend of fifty cents a share for Class A and B frequent inventory starting in March. With Zuckerberg holding about 350 million shares, he would take dwelling about $175 million in every quarterly fee earlier than taxes, in keeping with information compiled by Bloomberg.
Meta’s transfer to pay a dividend sends a sign concerning the firm’s view of its development potential. Usually, faster-growing tech corporations eschew dividends in favor of utilizing earnings to develop new merchandise or make costly acquisitions. Whereas Meta is spending large on synthetic intelligence initiatives, its acquisition prospects are dwindling within the face of regulatory opposition.
After Meta fired about 21,000 folks and narrowed its priorities, the inventory nearly tripled in 2023. The brand new dividend and an extra $50 billion in share buybacks could win extra endurance from traders with Zuckerberg’s long-term bets on synthetic intelligence and the metaverse.
Zuckerberg took dwelling $27.1 million in whole compensation in 2022, together with personal safety prices and a base wage of $1, in keeping with filings. Meta hasn’t but reported government compensation for final 12 months.
A spokesperson for the corporate declined to remark.
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