Meta Platforms, the parent company of social network Facebook, has marked a significant milestone by issuing its first dividend just days ahead of Facebook’s 20th anniversary. The move follows robust ad sales during the holiday shopping period, contributing to Meta’s revenue and profit exceeding expectations. Meta’s shares surged over 14% after the announcement, leading to a market valuation increase of more than $140 billion and setting record highs for the company for the first time in over two years.
In addition to the dividend announcement of 50 cents per share, Meta revealed the authorization of an additional $50 billion in share repurchases. The social media giant’s decision to issue a dividend makes it the first of its generation of internet giants to take this step, marking a significant development in the tech sector. Founded in 2004, Meta has grown into the world’s largest social media company, connecting over 3 billion people and transforming how individuals engage with trends, communicate, and participate in political discourse. Despite its successes, Meta has faced scrutiny for various issues, including user privacy violations and concerns about the spread of harmful content on its platforms.