Meta Shares Surge As Facebook's Parent Company Announces First Ever Dividend
Briefly

Meta, the parent company of Facebook, has reported strong financial results for Q4 2023, announcing dividends of $0.50 per share and a $50 billion share buyback program. Mark Zuckerberg, who owns approximately $350 million in Meta shares, could gain an additional $175 million in dividends this quarter, boosting his net worth.
'We had a good quarter as our community and business continue to grow,' said Meta founder and CEO Mark Zuckerberg.
Despite a drop in stock price in 2022, Meta's stock recently surpassed its previous all-time high, reaching $379.38 per share. The announcement of dividends and the buyback program led to a jump in share price to $461.47 in after hours trading.
Share price jumped after the announcement, rising to highs of $461.47 in after hours trading.
Total revenue at Meta increased by 25% in Q4 2023 compared to the same period last year, reaching $40.1 billion. Zuckerberg stated that the company will continue investing in generative AI technology and the metaverse.
'We've made a lot of progress on our vision for advancing AI and the metaverse,' said Zuckerberg.
Read at time.com
[
add
]
[
|
|
]
more Tech industry Briefly
[ Load more ]