Meta announces dividend payment, benefiting CEO Mark Zuckerberg, with annual earnings of $5800 crore.

Meta Stock: Facebook’s Parent Company Announces Dividend Payout

📅 Date: 5th February 2024

💼 Company: Meta (formerly Facebook)

📈 Benefit for CEO Mark Zuckerberg: Bloomberg reports that Meta’s dividend announcement will result in an annual profit of ₹58 billion ($700 million) for CEO Mark Zuckerberg.

💰 Dividend Details: Meta has revealed that it will pay a cash dividend of ₹0.50 per share on Class A and Class B common shares every quarter. The dividend payout will commence in March.

🤝 CEO’s Shares: Mark Zuckerberg holds 350 million shares of Meta. He will receive ₹175 million ($700 million) per quarter or ₹700 million ($2.8 billion) per year.

👏 Admirable Step: Meta’s move is commendable as tech companies generally do not pay dividends to their shareholders. Instead of utilizing earned profits on dividends, they usually invest in new products or acquisitions.

💪 Positive Performance: Last year proved to be successful for Meta. After a significant drop in share prices in 2022, the company experienced a rapid increase in share value. To cut costs, the company reduced its workforce by 21,000 employees. In 2023, Meta’s share price tripled.

📈 Benefits for Mark Zuckerberg: Thanks to the rise in Meta shares, Mark Zuckerberg has once again entered the list of the world’s top five richest individuals. According to Forbes’ billionaire list, Mark Zuckerberg’s current net worth is $139.3 billion. He is now the fifth wealthiest person in the world.

Decorated Title: 💰 Meta Stock: Facebook’s Parent Company Announces Dividend Payout ★Mark Zuckerberg’s Profits Soar!

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