Salesforce surprises with first ever dividend

CRM initiates a $0.40 per share quarterly dividend

In a surprising move Salesforce.com (ticker: CRM) announced its first ever dividend on February 28, 2024. The 40 cent quarterly payment yields 0.5% at a stock price of $303 for Salesforce.

• Stock/ticker: Salesforce/CRM

• Annual Dividend (in $B): $1.5

• Market Cap (in $B): $293.0

• Last Quote: $302.65

• YTD TR (Year-to-Date Total Return): 15.9%

• Yield: 0.5%

• Frequency: Quarterly Dividend

• Annual Dividend: $1.60

Salesforce’s Board of Directors declared a cash dividend of $0.40 per share of our outstanding common stock, payable on April 11, 2024 to stockholders of record as of the close of business on March 14, 2024. The company says that it intends to pay a cash dividend on a quarterly basis going forward, subject to market conditions and approval by our Board of Directors.

We’re also thrilled to initiate our first-ever Salesforce dividend and increase our share buyback plan by $10 billion,” said Marc Benioff, Chair & CEO, Salesforce.

The annual dividend is $1.55 billion. Salesforce follows Meta Platforms (ticker: META) with a first ever dividend. Meta announced a 50 cent per share quarterly dividend on February 1, 2024, yielding 0.4% at a current stock price of $492.