Monday, March 19, 2012
Posted by Jeff Campbell in "Apple News" @ 08:50 AM
"Apple announced it a shareholder dividend and stock buyback program on Monday, and Sterne Agee analyst Shaw Wu thinks the plan is a good idea. Company CEO Tim Cook and CFO Peter Oppenheimer discussed the program during a special conference call with analysts early Monday morning."
Apple has built up a cash surplus of $97 billion dollars from short term investments, so it really had to do something with all that money. Before the fiscal year ends this fall, Apple will start the $2.65 USD per share dividend, as well as a program to buy back roughly $10 billion in shares before the end of the calendar year. Good news for stockholders.