Alibaba invests $4.8b in share repurchase program to boost shareholder returns

The group also acquired 1.249 billion ordinary shares, totaling $12.5b for fiscal year 2024.

Alibaba Group has ramped up its share repurchase activity, acquiring 524 million ordinary shares for $4.8b in the first quarter of 2024, surpassing the previous quarter's expenditure of $2.9b.

In a statement, the group said it also repurchased 1.249 billion ordinary shares, totaling $12.5b for the entire fiscal year 2024.

“Our actions are delivering on a commitment made by Joe Tsai during his first earnings call after stepping into the chairman role where he said Alibaba is ‘focused on unlocking value to improve shareholder return’,” it stated.

Tsai, chairman of Alibaba Group, previously emphasised the company's focus on strategic investments for future growth and robust shareholder return initiatives, including an expanded share repurchase plan and dividend distribution.

The e-commerce giant’s execution of its share repurchase program resulted in a 5.1% reduction in share count for the fiscal year ending 31 March, surpassing the announced commitment of at least 3% annually.

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“The robust execution of our share repurchase program demonstrates our strong confidence in company’s future growth and the delivery of our commitment to enhance shareholder value,” the group stated. 

Alibaba has $31.9b allocated under its current shareholder repurchase program until March 2027.