Apple has announced what it intends to do with the almost $100 billion of cash it has in reserve, the company will issue a dividend to investors and will also start a share repurchase program to buy back shares.
Subject to declaration by the Board of Directors, the Company plans to initiate a quarterly dividend of $2.65 per share sometime in the fourth quarter of its fiscal 2012, which begins on July 1, 2012.
Additionally, the Company’s Board of Directors has authorized a $10 billion share repurchase program commencing in the Company’s fiscal 2013, which begins on September 30, 2012. The repurchase program is expected to be executed over three years, with the primary objective of neutralizing the impact of dilution from future employee equity grants and employee stock purchase programs.
Apple has said that they intend to use around $45 billion of their cash in the first three years of the programs, there should be more information later during Apple conference call.
Source The Next WebFiled Under: Apple, Technology News, Top News