Believe it or not, but (NASDAQ: GOOG) (NASDAQ: GOOGL) pays dividends nowadays.

On the eve of the Google parent company's first-quarter earnings report, its board of directors also announced Alphabet's first-ever dividend payment. The new policy starts with a payout of $0.20 per share, issued on June 17 to holders of Class A (GOOGL voting shares), Class B (insiders only, 10 votes each), and Class C (GOOG shares without voting powers) shares.

The policy will continue on a quarterly schedule, and Alphabet seems likely to raise the payouts over time.

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Source Fool.com