By P.R. Venkat
Baidu Inc. said it will pay its first-ever dividend this year and authorized a US$5 billion share-buyback program, part of a broader capital-return strategy.
The Chinese rival to Google said its board approved a dividend policy for the company's ordinary shares that could include regular or special payouts.
"With our substantial cash reserves and sound financial management capabilities, we aim to create and continuously enhance long-term value for our shareholders through our proactive shareholder return initiatives," Baidu said Thursday.
The new share-repurchase program will run through Dec. 31, 2028, with purchases made from time to time in the open market.
Baidu said the declaration, timing and amount of any future dividend will be determined at the board's discretion, based on factors including financial performance, capital needs, and market conditions.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
02-04-26 1951ET
