Google-parent Alphabet announces first-ever dividend, stock up 14%

Google-parent Alphabet announced its first-ever dividend to shareholders and a share buyback worth up to $70 billion after releasing its quarterly financial results for January-March 2024. After Alphabet announced a $0.20 dividend, its shares rose over 14% in after-hours trading, taking its mcap higher by about $300 billion to over $2 trillion. Alphabet's earnings/share in the quarter was $1.89.