Quick ReadAMZN surged 13% after AWS posted 37% revenue growth, and AMZW matched that gain while delivering weekly distributions at roughly a 40% annualized rate. jetcityimage / iStock Editorial via Getty ImagesAnyone owning Amazon for the AWS story has spent years watching a stock that pays no dividend. Why Investors Hold AmazonThe Q2 report gave AMZN holders the confirmation they had been waiting for. AWS revenue reached $42.232 billion, growing 37% year over year at a 39.4% operating margin, the fastest pace in 18 quarters. Amazon pays no dividend and has committed to roughly $200 billion in 2026 capital expenditures, which turned trailing free cash flow negative.