Apple says its Board of Directors has authorized another increase to the company’s program to return capital to shareholders. Apple expects to utilize a total of over US$130 billion of cash under the expanded program by the end of calendar 2015.
As part of the program, the Board has increased its share repurchase authorization to $90 billion from the $60 billion level announced last year. Apple expects to continue to utilize about $1 billion annually to net-share-settle vesting restricted stock units.
Additionally, the Board has approved an increase to the company’s quarterly dividend of approximately 8% and has declared a dividend of $3.29 per common share, payable on May 15, 2014, to shareholders of record as of the close of business on May 12, 2014. The company also plans to increase its dividend on an annual basis. With annual payments of $11 billion, Apple is among the largest dividend payers in the world.
From August 2012 through March 2014, Apple has...| Read more »