Alphabet Sets a $15.63 Quarterly Dividend for Preferred Shares

On Oct. 22, Alphabet set a Nov. 15 distribution of $15.63 for each Series A and Series B mandatory convertible preferred share. Holders of record on Nov. 1 are eligible, with the record cutoff at 5 p.m. ET. The full-quarter amount reflects the shares’ 6.25% annual dividend rate.

Twenty depositary shares together correspond to one preferred share. Dividing the $15.625 full-quarter amount by 20 gives $0.78125 per depositary share, or about 78 cents. The $15.63 figure applies to a whole preferred share, not to each related depositary share.

The rate is applied to a $1,000 liquidation preference, the amount used as the base for the dividend calculation. At 6.25%, that produces $62.50 over a year; one-quarter of the annual amount is $15.625, rounded to $15.63. The declaration uses the same annual rate as before.

The new distribution is $3.48 higher than the $12.15 declared for the preferred shares’ first payment. That initial period began with the June 5 issuance and ended Aug. 15, making it shorter than a full quarter. The current amount reflects a complete quarterly period, rather than an increase in the annual rate.

The Oct. 22 declaration applies to preferred stock and does not change Alphabet’s common-stock dividend. In July, the company declared a separate $0.22 dividend for each Class A, Class B and Class C common share, with payment scheduled for Sept. 14 to holders of record Sept. 7.

The June 5 issuance consisted of 385 million depositary shares for 19 million preferred shares and generated $19 billion in net proceeds. The proceeds were intended for general corporate purposes, including AI infrastructure and global compute.

Holders must meet the Nov. 1 record cutoff to qualify for the Nov. 15 preferred-share distribution.