There is no speical dividend. Its all stock buy back. Read it and weep.
Today we reached a very important milestone in our relationship with Alibaba - we closed a transaction selling some of our Alibaba Group shares for $7.6 billion. After taxes and fees, we have received approximately $4.3 billion. We'll be issuing a press release imminently.
We have reviewed our strategy for the proceeds with the board of directors and have agreed that we will be returning approximately $3.65 billion to shareholders. This amount includes a 'down payment' of $646 million that we made over the past few months in the form of stock buybacks since the transaction was announced, as well as an additional $3 billion from today's proceeds.
This outcome is terrific for Yahoo!. It generates liquidity to create substantial value for our shareholders, while retaining a meaningful amount in the company to invest in our future. Also, because we still own 23 percent of Alibaba's common stock, we have the opportunity to benefit from future upside when Alibaba IPOs.
I'd like to take a moment to thank Tim Morse and Ron Bell and everyone on their teams who worked on this deal. Today's announcement is the result of years of savvy investment, hard work, creativity and tenacity in order to navigate an extremely complicated set of legal and tax parameters. The team's execution has been excellent and positions Yahoo! well for future growth. Congratulations!
In the last few months, we have built great momentum around our company.
Thank you all for staying focused on our users, advertisers, and shareholders.
Not sure where people claim to read an all stock buy back or 3.65 dividend. What this says is there was a $646k buyback. At best a $3 dividend but probably a mix but thatsthe speculation on mythe part. Nothing more at this point folks.