Alphabet made no share buybacks in Q1 2026, down from $15.1B a year earlier

Alphabet's Q1 2026 cash flow statement shows zero spending on repurchases, against $15.1 billion in Q1 2025. The company kept its dividend at $0.21 per quarter, up from $0.20, with about $2.6 billion declared. Stopping buybacks while capex rises and debt is issued signals that cash is going to AI infrastructure.

• Repurchases of stock: $0 in Q1 2026 vs $15,068 million in Q1 2025
• Quarterly dividend $0.21 per share, up from $0.20 a year earlier
• Total dividends and equivalents declared: $2,559 million