Apple Announces $2.65 Dividend for Q4, $10 Billion Share Buyback
Posted on March 19, 2012 by vincent oliver
Apple announced initiatives for its approximately $100 billion in cash this morning. Beginning in fiscal 2013, which starts on September 30 of this year, Apple will initiate a $10 billion share repurchase program which will run over three years. Apple will also offer a quarterly dividend of $2.65 per share starting Q4 of this year, which starts 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. 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’s stock price closed today at a record high of $601.10, +15.53 (2.65%).