Apple more than doubles capital return program
TweetFollow Us on Twitter

Apple more than doubles capital return program


Apple has announced that its Board of Directors has authorized a significant increase to the company’s program to return capital to shareholders. The company expects to utilize a total of $100 billion of cash under the expanded program by the end of calendar 2015.

This represents a $55 billion increase to the program announced last year and translates to an average rate of US$30 billion per year from the time of the first dividend payment in August 2012 through December 2015.

As part of this program, the Board has increased its share repurchase authorization to $60 billion from the $10 billion level announced last year. This is the largest single share repurchase authorization in history and is expected to be executed by the end of calendar 2015. Apple also expects to utilize about $1 billion annually to net-share-settle vesting restricted stock units.

Additionally, the Board has approved a 15% increase in the company’s quarterly dividend and today has declared a dividend of $3.05 per common share, payable on May 16, 2013 to shareholders of record as of the close of business on May 13, 2013. Apple is among the largest dividend payers in the world, with annual payments of about $11 billion.

In conjunction with the expanded return of capital program, the company plans to borrow and expects to announce more details about this in the near future. The management team and Board of Directors will continue to review each element of the capital return program on an annual basis, says Apple CEO Tim Cook.

“"We are very fortunate to be in a position to more than double the size of the capital return program we announced last year," he adds. "We believe so strongly that repurchasing our shares represents an attractive use of our capital that we have dedicated the vast majority of the increase in our capital return program to share repurchases."

"We will continue to return capital to shareholders through dividends, share repurchases, and cash used to net-share-settle vesting RSUs," adds Peter Oppenheimer, Apple’s chief financial officer. "We continue to generate cash in excess of our needs to operate the business, invest in our future, and maintain flexibility to take advantage of strategic opportunities."

 
Community Search:
MacNews Search:
See All
view counter

view counter
view counter
view counter
view counter
view counter
view counter

Galaxy of Trian (Games)
Galaxy of Trian 1.1.0 Device: iOS Universal Category: Games Price: $6.99, Version: 1.1.0 (iTunes) Description: Galaxy of Trian is an exciting, fast paced digital board game based on the highly acclaimed tabletop title. | Read more »
Dead In Bermuda (Games)
Dead In Bermuda 1.0 Device: iOS Universal Category: Games Price: $4.99, Version: 1.0 (iTunes) Description: | Read more »
The Little Fox (Games)
The Little Fox 1.0.1 Device: iOS Universal Category: Games Price: $2.99, Version: 1.0.1 (iTunes) Description: The Little Fox is an alternative perspective on the world-renowned ‘fairy tale for adults', The Little Prince by Antoine de Saint-Exupéry, where the Fox takes the place of the protagonist – a charming little character with... | Read more »
How to get more cars in CSR Racing 2
NaturalMotion and Zynga brought a lot of real life cars to the table for CSR Racing 2. From souped up everyday rides made by Nissan and Hyundai to supercars produced by the likes of McLaren and Pagani, there really is something for everyone. [Read more] | Read more »
Crypt of the NecroDancer Pocket Edition...
Crypt of the NecroDancer Pocket Edition 1.0 Device: iOS Universal Category: Games Price: $4.99, Version: 1.0 (iTunes) Description: Crypt of the NecroDancer is an award winning hardcore roguelike rhythm game. Move to the music and deliver beatdowns to the beat! Groove to the epic Danny Baranowsky soundtrack, or easily select songs... | Read more »
Gear-grinding puzzle title Inner Circle...
If you saw our post earlier this month announcing the imminent release of ZPlay’s new creation, Inner Circle, you’ll be happy to know that it’s now available on the App Store. Established in 2010, developer and publisher ZPlay have taken the mobile gaming industry by storm, attracting an impressive collection of over 400 million users to date and... | Read more »
CSR Racing 2: Your guide to what's...
CSR Racing 2, or CSR2, as it likes to call itself, has finally arrived. The follow-up to the immensely popular drag racing game CSR Racing is the first release from NaturalMotion since the studio's acquisition by Zynga in early 2014. [Read more] | Read more »
Nanuleu (Games)
Nanuleu 1.1 Device: iOS Universal Category: Games Price: $2.99, Version: 1.1 (iTunes) Description: Nanuleu is a strategy game where you take control of ancient magical trees that protect the land from an invading dark force.A destructive power is approaching, the ancient trees have sensed it and have awaken from the long sleep. | Read more »
The Slaughter: Act One (Games)
The Slaughter: Act One 1.0.323 Device: iOS Universal Category: Games Price: $3.99, Version: 1.0.323 (iTunes) Description: “The game mixes realism and surrealism to create a story that can cause just as much laughter as fear. A-” - Just Adventure “Has its moments of laughter and sheer horror to excite any avid gamer who loves a... | Read more »
NEO TURF MASTERS (Games)
NEO TURF MASTERS 1.0 Device: iOS Universal Category: Games Price: $2.99, Version: 1.0 (iTunes) Description: NEOGEO’s legendary golf game is back, in a brand-new mobile version with touch controls!NEO TURF MASTERS (also known as “BIG TOURNAMENT GOLF” in Japan) is an arcade classic that touched an entire generation. | Read more »
All contents are Copyright 1984-2010 by Xplain Corporation. All rights reserved. Theme designed by Icreon.