What we wouldn't give to be a shareholder in Apple right now. More money than it knows what to do with - and now the Cupertino giant is beginning a dividend and share repurchase programme as it seeks to leverage its $100bn cash pile.
A cool $45bn will be spent on the programme over the next three years.
Apple's promising that innovation won't be something consigned to the past: “even with [our] investments, we can maintain a war chest for strategic opportunities and have plenty of cash to run our business,” said CEO Tim Cook.
“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.”
The quarterly dividend will kick off in July and amounts to around $2.65 a share.
“The primary objective of [the repurchase program is] neutralising the impact of dilution from future employee equity grants and employee stock purchase programs” Apple said officially.
“Combining dividends, share repurchases, and cash used to net-share-settle vesting RSUs, we anticipate utilising approximately $45 billion of domestic cash in the first three years of our programs,” commented Apple finance chiefPeter Oppenheimer. “We are extremely confident in our future and see tremendous opportunities ahead.”
We're not suprised they have so much money. £699 for a SIM-free 64GB iPhone?!