Baidu Plans First Dividend, $5 Billion Buyback as AI Rally Fades

Baidu Inc. announced plans to issue its first dividend alongside a three-year stock buyback program of as much as $5 billion, moving to reward investors who’ve endured a multiyear retreat in the Chinese search leader’s market value.

The Chinese AI and search specialist authorized a buyback program that will cover the period through the end of 2028, it said in a filing on Thursday. Beijing-based Baidu also expects to declare the first payment of a dividend this year, which may include regular or special distributions. The company is due to report earnings this month.