Apple Will Pay Out $2.5 Billion in Dividends Tomorrow
Posted on August 15, 2012 by eli courey
Apple announced plans for a new dividend program in March, along with a $10 billion share buyback program. The company will pay its shareholders a $2.65 per share dividend each quarter, and the first dividends will be paid on August 16, 2012.
This is the first time Apple has issued dividends to shareholders in 17 years. Apple CEO Tim Cook said that the company has used some of its 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,” he added, “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.”