Apple Plans Dividend, Repurchase Program
Apple on Monday revealed plans for its large pile of cash, announcing both a quarterly dividend of $2.65 per share and $10 billion share repurchase program.
The dividend will be initiated in the fourth quarter of fiscal 2012, with the repurchase program starting in fiscal 2013.
"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,” Tim Cook, Apple’s CEO, said as part of the announcement.