Alphabet Buybacks vs. Dividends as Shareholder Returns Compare
Alphabet returned capital through large-scale share repurchases: from 2023 to 2025 it spent nearly US$170B to buy back 1.1B+ shares, while paying US$17.4B in dividends (about 10% of buyback spend). The buybacks reduced total shares from 12.7B to 12.2B. The piece contrasts this with Singtel’s dividend-focused payout growth and lower total returns.