Apple Stock Buyback
March 20, 2012 by staff
Apple Stock Buyback, The world’s most valuable publicly traded company has finally found something to do with its hoard of cash.
In a conference call Monday, Apple Inc. CEO Tim Cook announced that the Cupertino, Calif., 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.
“We have used some of our cash to make great investments in our business through increased research and development, acquisitions, new retail store openings, strategic prepayments and capital expenditures in our supply chain, and building out our infrastructure. You’ll see more of all of these in the future,” Cook said during an unusual conference call withanlysts early Monday. “Even with these investments, we can maintain a war chest for strategic opportunities and have plenty of cash to run our business. So we are going to initiate a dividend and share repurchase program.”
Apple also said its board has authorized a $10 billion share repurchase program for its fiscal year 2013, which begins Sept. 30 of this year. Apple said it expected the move to take place in three years and said its main goal was “neutralizing the impact of dilution from future employee equity grants and employee stock purchase programs.”
Please feel free to send if you have any questions regarding this post , you can contact on
Disclaimer: The views expressed on this site are that of the authors and not necessarily that of U.S.S.POST.