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.