Baidu.com Inc. (BIDU), a Chinese AI and internet company, announced that its Board of Directors has approved a new $5 billion share repurchase program and a dividend policy, citing its substantial cash reserves and sound financial management capabilities.
In pre-market activity on the Nasdaq, the shares were gaining around 4.5 percent to trade at $144.20, after closing Wednesday's trading 4.8 percent lower at $137.95.
In a statement, the company said the new share repurchase program for up to $5 billion will be effective through December 31, 2028. The Board will periodically review the repurchase program and may adjust its terms and size as appropriate.
In addition, the Board has approved the adoption, for the first time, of a dividend policy for its ordinary shares, which may include regular and/or special distributions of dividends.
The Board expects to declare the first payment of dividend in 2026.
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