Home
Others
Others News
Google announces stock dividend

Google announces stock dividend

By Reuters | Updated: 5 June 2012 16:16 IST

Highlights

Google Inc announced plans to give investors a stock dividend on Thursday, as the search giant reported first quarter revenue roughly in line with Wall Street estimates.

Google Inc announced plans to give investors a stock dividend on Thursday, as the search giant reported first quarter revenue roughly in line with Wall Street estimates.

Shares of Google, which finished on Thursday's regular session at $651.01, rose to $655 in after-hours trading.

Google said its board of directors has approved a dividend of stock to existing shareholders that it calls a 2-for-1 stock split, preserving its corporate and control structure.

The announcement came as Google co-founder Larry Page completed a year after his return as chief executive.

Net revenue, excluding fees paid to partner websites, totalled $8.14 billion in the three months ended March 31, compared with $6.54 billion in the year-ago period and analysts' average estimate of $8.15 billion according to Thomson Reuters.

Net income was $2.89 billion, or $8.75 per share, compared with $1.80 billion, or $5.51 a share, in the year-ago period when Google took a $500 million charge to settle a government probe into its advertising practices.

Since taking the reins one year ago, Mr Page has cut back on extraneous projects, launched a social networking service to challenge Facebook, and signed a $12.5 billion deal to acquire smartphone maker Motorola Mobility Inc.

Copyright Thomson Reuters 2012

Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Google, Google news, Google profit

Google announces stock dividend

Related Stories