...June 5, 2024 Alphabet's announcement of a quarterly dividend is consistent with its conservative financial policy and shareholder return plans. Alphabet announced in April that it is initiating a 20 cents per share quarterly dividend, which amounts to approximately $10 billion per year. This does not change our expectations for Alphabet's financial policy with respect to shareholder returns. We continue to expect Alphabet to return roughly all free operating cash flow it generates to shareholders through its newly initiated dividend and share repurchases. Alphabet has returned to consistently strong double-digit growth. Alphabet has seen strong and accelerating growth over the past year across advertising, subscriptions, and its Cloud segment and has continued to outpace the broader industry due to its market-leading position. Alphabet's ongoing investments in its advertising infrastructure and in its artificial intelligence (AI) capabilities gives it a strong competitive advantage even...
