Investors hoping for a little extra money - and small startups hoping for a lot - are going to need to find someone or something other than Google to provide it. The search giant's CEO said yesterday that he intends to let his company's checkbook collect a little dust.
You'll no doubt remember that Google used to snap up businesses left and right. Occasionally the deals were useful (
He also stated, "We've not really discussed a dividend payment. At the moment our view is to let the cash pile up." Which may disappoint people who've stuck by as the stock dropped from a 52-week high of 602.45 to its current price of 315.49. Still, this stinginess doesn't necessarily signify something bad. Onlookers have long pushed for Google to grow less acquisition-happy, and, well, the company's never offered shareholders a dividend. A comment Schmidt made to CNBC is encouraging, too; in regards to revenue, the CEO said, "From my perspective it's hard to imagine why you'd see a decline."
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