Capital Return Program

The success of our strategy to deliver the best network, best value, and best experiences for customers has allowed us to profitably outpace the industry on customer growth. We are translating this growth into strong financial performance and massive free cash flow, creating value that we can return to our shareholders through both buybacks and dividends.

On September 8, 2022, the Board authorized a stock repurchase program for up to $14.0 billion through September 30, 2023, which has been completed.
On September 6, 2023, the Board authorized a shareholder return program of up to $19.0 billion through December 31, 2024, consisting of additional share repurchases and payment of quarterly dividends.


$ in Millions
Periods Buyback Amount Dividend Amount Capital Returned
Q3 2022 $669 - $669
Q4 2022 $2,331 - $2,331
Q1 2023 $4,766 - $4,766
Q2 2023 $3,525 - $3,525
Q3 2023 $2,675 - $2,675
Q4 2023 $2,241 $747 $2,988
Total: $16,207 $747 $16,954

Dividend

The company has initiated a quarterly dividend for the first time in company history beginning in December 2023, which the company expects to grow by about 10 percent annually.

Declaration Date Record Date Payment Date Per Share Amount
09/25/2023 12/01/2023 12/15/2023 $0.65
01/24/2024 03/01/2024 03/14/2024 $0.65
03/15/2024 05/31/2024 06/13/2024 $0.65
Total: $1.95