Match Group initiates dividend
Match Group (MTCH) will start paying a quarterly dividend of $0.19 per share in 2025. The dividend yield is 2.4% at a stock price of $31.45.
Match Group, the company behind dating app Tinder will pay its first ever dividend in Q1 of 2025. In conjunction with company's Investor Day, the Match announced initiatives to return capital to shareholders, including initiation of a cash dividend program and a new $1.5 billion share buyback authorization. At a stock price of $31.45 the dividend yield is 2.4%.
Latest Dividend News for Match Group (MTCH)
Match Group, the company behind dating app Tinder will pay its first ever dividend in Q1 of 2025. In conjunction with company's Investor Day, the Match announced initiatives to return capital to shareholders, including initiation of a cash dividend program and a new $1.5 billion share buyback authorization. At a stock price of $31.45 the dividend yield is 2.4%.
"Match Group stands as the clear leader in our industry, powered by a diverse portfolio of iconic brands," said Bernard Kim. "Today, we're excited to showcase our strategy and vision to drive innovation – particularly through the use of AI and cutting-edge technology – to redefine dating and propel Match Group to its next chapter of growth. Our dividend announcement and additional buyback authorization underscore our confidence in the strength and durability of our business model and cash flow generation, and our commitment to delivering consistent, long-term value for shareholders."
Match Group has consistently prioritized returning capital to its shareholders in a predictable manner. The Company intends to return at least 100% of free cash flow to its shareholders over the next three years through a combination of payment of a quarterly cash dividend and by continuing its share repurchase program.
The company announced its Board of Directors has declared a cash dividend of $0.19 per share of outstanding common stock, payable on January 21, 2025 to shareholders of record as of the close of business on January 6, 2025. Going forward, the Company expects to declare a dividend in a similar amount on a quarterly basis, subject to market conditions and approval by the Board of Directors. Assuming a dividend of $0.19 per quarter for the fiscal year, this equates to a dividend of $0.76 annually, which at current share prices would imply a more than 2% annual dividend yield. The Company believes it has the capacity to increase the amount of the quarterly dividend in the future.
The Board of Directors also authorized the repurchase of up to an additional $1.5 billion in aggregate value of shares of Match Group common stock, which will take effect when the existing share repurchase authorization, of which $247 million in aggregate value of shares of Match Group common stock remains available, is exhausted. While repurchases during any quarter may vary depending on a number of factors, including market conditions, the Company expects to return at least 75% of free cash flow through its buyback program. Year to date, under its current authorization, the Company has repurchased $753 million of Match Group common stock and intends to resume its buybacks after it releases Q4 2024 earnings.
Match Group, Inc. offers digital technologies that help people make connections through brands like Tinder, Hinge, Match, Meetic, OkCupid, Pairs, Plenty Of Fish, Azar, and BLK. The company's segments include Tinder, Hinge, Match Group Asia (for brands in Asia and the Middle East like Pairs and Azar), and Evergreen & Emerging (for brands like Match, Meetic, OkCupid, and Plenty Of Fish). Their services are available in over 40 languages worldwide.
Latest Dividend News for Match Group (MTCH)
