Google is likely not better at managing their money than investors. But once you issue dividends there is an expectation the dividend amount remains. Google did

Google is likely not better at managing their money than investors. But once you issue dividends there is an expectation the dividend amount remains. Google did do share buybacks which is generally a more efficient way to return money back to shareholders. Alternatively if google is viewed as a growth tech stock. I think people would trust google to make investments into growth tech startups. Google ventures performance is pretty decent.