Altaba Announces Liquidating Distribution of $0.96 Per Share

Altaba Inc. (AABA), formerly Yahoo!, announced on February 9, 2023 that its board of directors had approved a liquidating distribution of $0.96 per share of the company’s common stock. The distribution was payable on February 17, 2023 to shareholders of record as of February 10, 2023.

This liquidating distribution is part of Altaba’s ongoing process of liquidating its assets and dissolving the company. Altaba was formed in 2017 as part of the sale of Yahoo!’s core business to Verizon. Altaba’s remaining assets included a stake in Alibaba Group Holding Ltd. (BABA) and Yahoo! Japan Corporation (4689.T).

Altaba began distributing its Alibaba stake to shareholders in 2019. The company completed the distribution of its Alibaba stake in 2022. After the distribution of its Alibaba stake, Altaba’s remaining assets consisted of its stake in Yahoo! Japan and cash.

In February 2023, Altaba announced that it had reached a definitive agreement to sell its stake in Yahoo! Japan to SoftBank Group Corp. (9984.T) for $2.4 billion. The sale of Altaba’s stake in Yahoo! Japan is expected to close in the fourth quarter of 2023.

Once the sale of its stake in Yahoo! Japan closes, Altaba will have no remaining assets and will dissolve the company. The liquidating distribution of $0.96 per share is a return of capital to shareholders and represents the remaining proceeds from the sale of Altaba’s Alibaba stake.

For shareholders who held Altaba shares through a brokerage account, the liquidating distribution was automatically deposited into their cash account. For shareholders who held Altaba shares in physical form, they received a check in the mail for the amount of the distribution.

Altaba’s liquidation is expected to be completed in the fourth quarter of 2023.