Apple to pay dividend and buy back shares

Apple are to pay dividend and buy back shares, reports the BBC.

Apple has said it will use its cash to start paying a dividend to shareholders and to buy back some of its shares.

The technology giant said it would pay a quarterly dividend of $2.65 per share from July.

It will buy back up to $10bn (£6.3bn) of its own shares starting in the company’s next financial year, which begins on 30 September 2012.

At the end of last year, Apple revealed it had $97.6bn in cash. It expects to use $45bn over the next three years.

It is the first time Apple has declared a dividend since 1995.

Read More

Post a Reply

Top