Alphabet Inc. (NASDAQ:GOOG) Announces Quarterly Dividend of $0.22

Key Points

• Alphabet declared a quarterly dividend of $0.22 per share, with an ex-dividend date of September 4 and payment scheduled for September 14.
• The dividend implies an annualized yield of about 0.3%, and the company’s payout ratio of 8.7% suggests the dividend is well covered by earnings.
• Alphabet recently reported strong quarterly results, including $9.11 EPS versus $2.88 expected and revenue of $119.8 billion, up 24.2% year over year.

Alphabet Inc. (NASDAQ:GOOG - Get Free Report) declared a quarterly dividend on Wednesday, July 22nd. Investors of record on Monday, September 7th will be given a dividend of 0.22 per share by the information services provider on Monday, September 14th. This represents a c) dividend on an annualized basis and a yield of 0.3%. The ex-dividend date of this dividend is Friday, September 4th.

Alphabet has a dividend payout ratio of 8.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Alphabet to earn $14.87 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 5.9%.

Alphabet Stock Down 6.9%

GOOG stock traded down $23.57 during midday trading on Thursday, hitting $318.34. The company's stock had a trading volume of 46,606,265 shares, compared to its average volume of 21,600,643. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.92 and a quick ratio of 1.92. Alphabet has a twelve month low of $188.70 and a twelve month high of $404.47. The company's fifty day moving average price is $363.69 and its 200 day moving average price is $337.49. The stock has a market capitalization of $3.86 trillion, a P/E ratio of 24.28, a PEG ratio of 1.43 and a beta of 1.23.

Alphabet (NASDAQ:GOOG - Get Free Report) last posted its quarterly earnings data on Thursday, July 23rd. The information services provider reported $9.11 EPS for the quarter, topping analysts' consensus estimates of $2.88 by $6.23. The company had revenue of $119.80 billion during the quarter, compared to the consensus estimate of $117.06 billion. Alphabet had a net margin of 37.92% and a return on equity of 38.99%. The company's quarterly revenue was up 24.2% on a year-over-year basis. During the same period in the prior year, the business posted $2.31 EPS. As a group, equities research analysts predict that Alphabet will post 14.34 EPS for the current year.

About Alphabet

Alphabet Inc NASDAQ: GOOG is a multinational technology holding company headquartered in Mountain View, California. Formed in 2015 through a corporate restructuring of Google, Alphabet serves as the parent to Google LLC and a portfolio of businesses collectively known as "Other Bets." Google was originally founded in 1998 by Larry Page and Sergey Brin; Alphabet is led by CEO Sundar Pichai, who oversees Google and the broader company while the founders remain prominent shareholders and influential figures in the company's history.

Alphabet's core business centers on internet search and advertising, with Google Search and the company's ad platforms (including Google Ads and AdSense) generating the majority of revenue by connecting advertisers with consumers worldwide.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.