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Apple Inc Increases Repurchase Authorization; Approves Quarterly Dividend


Tuesday, 23 Apr 2013 04:30am EDT 

Apple Inc 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 $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. It 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 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. 

Company Quote

119.0
1.4 +1.19%
26 Nov 2014