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Apple to Buy Back $10bn of Its Shares and Pay Dividend

Posted by samzenpus on from the everyone-likes-money dept.

floydman writes "Apple has said it will use its cash to start paying a dividend to shareholders and to buy back some of its shares. The technology giant said it would pay a quarterly dividend of $2.65 per share from July. It will buy back up to $10bn of its own shares starting in the company's next financial year, which begins on 30 September 2012. Apple CEO Tim Cook said, '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. 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.'"

6 of 301 comments (clear)

  1. Lawsuits by Nerdfest · · Score: 2, Funny

    "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,"

     
    Hmmmm ... strange there's no mention of their legal department. They seem to be investing more there than in research and development.

    1. Re:Lawsuits by rwise2112 · · Score: 3, Funny

      you don't use the term "war chest" unless you're talking about lawsuits, either going on the attack or defense.

      Or actual war. Maybe the iTroopers will march on Google.

      --

      "For every expert, there is an equal and opposite expert"
  2. Re:Context? by Anonymous Coward · · Score: 4, Funny

    More importantly, if it reached over 50% ownership of its own shares would it become sentient?

  3. I seem to remember by squidflakes · · Score: 5, Funny

    Didn't Steve Jobs say something like "Apple will only pay dividends over my dead body."

    Too soon?

  4. Re:Context? by Anonymous Coward · · Score: 1, Funny

    So, all they want to do is concentrate power? The one share to rule them all?

  5. I was hoping... by cmarkn · · Score: 5, Funny

    they'd just take all that cash and buy Microsoft, lop off the deadwood at the top and spin off three or four little companies to build iOS apps.

    --
    People should not fear their government. Governments should fear their people.