Feb. 5 at 2:45 AM
PickAlpha Midday:
Baidu (BIDU) authorized a new share repurchase program of up to
$5B through Dec. 31, 2028 and adopted its first-ever dividend policy, with the board expecting to declare its first dividend in 2026.
Tickers:
$BIDU $BABA $KWEB
Our view is this is a real “capital-return floor” signal — but it only works if it hits the tape. If buybacks show up as consistent quarterly reduction and the 2026 dividend gets a clear framework, BIDU can re-rate; if cash gets soaked by AI/robotaxi spend without monetization, this reads as optics.
