Salesforce Initiates Quarterly Dividend

First Dividend Payment of $0.40 Declared, Annual Dividend Rate of $1.60

Salesforce Board Declares Cash Dividend

May 29, 2023 at 4:00 PM EDT - San Francisco, CA - Salesforce (NYSE: CRM), the global leader in cloud computing, today announced that its Board of Directors has declared a quarterly cash dividend of $0.40 per share of its outstanding common stock. The dividend is payable on July 17, 2023 to stockholders of record as of the close of business on June 19, 2023. This marks the first quarterly dividend payment for Salesforce, which has historically not paid dividends to its shareholders. The company's decision to initiate a dividend program reflects its strong financial performance and commitment to returning value to its investors. "We are pleased to announce our first quarterly dividend payment," said Marc Benioff, Chairman and CEO of Salesforce. "This dividend is a testament to the strength of our business and our commitment to delivering value to our shareholders." With the declaration of this dividend, Salesforce joins the ranks of other large-cap technology companies that pay dividends to their shareholders. The move is likely to be well-received by investors, who have been clamoring for Salesforce to return more of its cash to them. The annual dividend rate of $1.60 per share represents a forward yield of 0.59% based on the current share price of $271.26. The dividend will be paid every three months, with the next payment scheduled for October 16, 2023. The company's decision to initiate a dividend program is a significant milestone in its history. It demonstrates the company's confidence in its future prospects and its commitment to delivering value to its shareholders.