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Surprise, surprise – Apple just let the cat out of it’s own bag. In right around a half-hour, the company will officially unwrap plans to initiate a dividend and share repurchase program commencing later this year. 'Course, analysts have been clamoring for such an announcement for quite some time, and with a stock price near $600 and some $100 billion in the bank, the outfit can clearly afford it. More specifically, Apple 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.” Granted, that’s all subject to the Board of Directors giving the ole a-okay, but we highly doubt the company would issue such knowledge without a practical guarantee that everyone is on board. Additionally, the Company’s Board of Directors has authorized a $10 billion share repurchase program commencing in the Apple’s fiscal 2013, which begins on September 30, 2012; we’re told that said program will be executed over three years, with the main goal being to “neutralize the impact of dilution from future employee equity grants and employee stock purchase programs.”
Developing…Continue reading Apple announces dividend and share repurchase program for 2012, expects to spend $45 billion over three years
Apple announces dividend and share repurchase program for 2012, expects to spend $45 billion over three years originally appeared on Engadget on Mon, 19 Mar 2012 08:32:00 EDT. Please see our terms for use of feeds.
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