Apple To Pay Dividends, Start Stock Buybacks

Apple has announced that it will put its massive cash store to work by introducing a quarterly dividend of $2.65 per share, and starting a $10 billion share buyback program, reports the AP:

Apple says the dividend will start in its fiscal fourth quarter, which begins July 1. The buybacks will begin in its next fiscal year, which starts Sept. 30.

Apple is sitting on $97.6 billion in cash and securities. For years, it has resisted calls to reward shareholders with some of that money. Since the death of CEO Steve Jobs, management has signaled that it’s been considering options for the money.

ABOUT THE AUTHOR

Igor Bobic is the assistant editor of Talking Points Memo, helping oversee the site's coverage of politics and policy in Washington. While originally from Bosnia and Herzegovina, Igor feels best at home on the beaches of Southern California. He can be reached at igor@talkingpointsmemo.com.
LIKE US ON FACEBOOK