The Strategist

Google owner announces $70B share buyback in 2022



04/27/2022 - 06:02



The board of directors of Alphabet, the parent company of Google, has approved a $70 billion buyback from investors.



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According to CNBC, Alphabet, Google's parent company, stated that its board of directors has approved a $70 billion share repurchase from investors, marking a substantial acceleration in the firm's aim to return investment to shareholders through share buybacks.

When deciding on whether to buy back shares, Alphabet said it would consider the share price and market conditions. The board of directors approved the firm to buy back $25 billion in shares in 2019. In 2021, it approved a $50 billion buyback, more than doubling the amount set aside before.

Alphabet announced a 20-to-1 split of its shares on February 1, 2022. On July 15, those investors who will be shareholders in the company as of July 1 will receive additional 19 shares for each available paper in their brokerage accounts. The price of the paper will decline by a factor of 20 on the following trading day, July 18.

Alphabet's stock is now among the most valuable in the United States. As of Tuesday's closure, the company's papers had dropped 18% since the start of the year.

source: cnbc.com




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