Google parent Alphabet delivers first-ever dividend, shares soar

Google parent company Alphabet joined a handful of rival tech giants paying dividends, announcing its first-ever planned payout during its latest quarterly results, which were driven by momentum in search and plans to be even more dominant in AI. 

The $0.20 cash dividend will be paid on June 17th to shareholders of record as of June 10th for all three classes of company shares A, B and C. The search giant also authorized $70 billion in new share repurchases. The company is sitting on $108 billion in cash.