Google’s $70 Billion Buyback Will Help the Stock. Don’t Expect It to Take Off.
Alphabet also increased its quarterly payout to 21 cents from 20 cents, lifting its dividend yield to 0.51% from 0.48%. The repurchase plane is part of the reason shares were up 3.5% in premarket trading at just under $165, while futures on the and had slipped 0.2% and 0.4%, respectively. Alphabet management might have felt the pressure to do something because, coming into Friday trading, shares had dropped 23% from a 52-week high reached in February.