Mark ZuckerbergCEO of Meta Platforms, the parent company of Facebook, WhatsApp and Instagram, could earn no less than US$700 million a year thanks to the new quarterly dividend announced by the multinational.
The businessman, co-founder of the company, has around 350 million class A and class B Meta titlesjust over 13% of the total, according to the records of the Securities and Exchange Commission (SEC) at the end of 2022. This implies that, when the company pays dividends for the first time, Zuckerberg will also earn a large amount.
On Thursday, Meta’s board of directors announced, when presenting the company’s results in 2023, that the company will begin paying a cash dividend of US$0.50 per share for outstanding shares, which will be paid on March 26, 2024.
“We intend to pay a cash dividend quarterly in the future, subject to market conditions and the approval of our board of directors,” the multinational confirmed. The co-creator would earn around US$175 million quarterly, with a total of US$700 million in one year.
Zuckerberg’s estimated fortune in 2023 was around $64.4 billionwhich earned him 16th place on the list of millionaires prepared by Forbes magazine.
Meta’s latest balance sheet is better than expected
Meta reported this Thursday a net profit of US$14,000 million in the last quarter of last year, exceeding analysts’ forecasts. “We had a good quarterour community and our business continue to grow,” said the head of Meta Mark Zuckerberg it’s a statement.
The company that is part of one of the “magnificent seven” also announced that, For the first time since it was listed on the stock market, it will pay a dividend of US$0.50 gross per share and that the date will be March 26.
Accounting for all Meta applications, the company reported 3.19 billion daily active people (DAP) on average for December 2023, an increase of 8% year-on-year. Family monthly active persons (MAP) amounted to 3.98 billion as of December 31, an increase of 6% annually.
Looking ahead, Meta forecast for the first quarter of 2024, revenues in the range of US$34.5 billion to US$37 billion. This forecast exceeds the consensus estimate of $33.83 billion, indicating that the company continues to expand.
Meta reaffirmed his prediction that Total expenses for the entire year 2024 will be in the range of US$94 billion to US$99 billion. Regarding share buybacks, Meta revealed that it had repurchased US$6.32 billion of its Class A common shares in the fourth quarter and US$20.03 billion for all of 2023.
As of December 31, 2023, The company had US$30,930 million available for new buybacks.
Source: Ambito
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