JEV
Mr. Congeniality
Apple announces dividend, stock buyback
By Pat May
pmay@mercurynews.com
Posted: 03/19/2012 06:11:05 AM PDT
Updated: 03/19/2012 08:59:00 AM PDT
The world's most valuable publicly traded company has finally found something to do with all that cash.
In a conference call early Monday, Apple (AAPL) CEO Tim Cook announced that the Cupertino company would initiate a dividend and share repurchase program beginning later this year, using $45 billion of its nearly $100 billion cash on hand.
Subject to the board's approval, Cook said the company plans to offer a quarterly dividend of $2.65 per share sometime in its fiscal fourth quarter, which begins July 1.
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By Pat May
pmay@mercurynews.com
Posted: 03/19/2012 06:11:05 AM PDT
Updated: 03/19/2012 08:59:00 AM PDT
The world's most valuable publicly traded company has finally found something to do with all that cash.
In a conference call early Monday, Apple (AAPL) CEO Tim Cook announced that the Cupertino company would initiate a dividend and share repurchase program beginning later this year, using $45 billion of its nearly $100 billion cash on hand.
Subject to the board's approval, Cook said the company plans to offer a quarterly dividend of $2.65 per share sometime in its fiscal fourth quarter, which begins July 1.
More