Apple boosts Capital Return Program to $200 billion
Technology major Apple announced that the company management has expanded the capital return program to $200 billion by the end of March 2017. The share repurchase program has been expanded from $90 billion to $140 billion this year. The quarterly dividend has been raised by 11 percent.
Shareholders on record on May 11, 2015 will receive dividend of $0.52 on May 15, 2015. Apple has returned over $112 billion to shareholders under its capital return program started in August 2012. The company has bought back shares worth $80 billion.
Apple CEO Tim Cook said in a statement Monday, "We believe Apple has a bright future ahead, and the unprecedented size of our capital return program reflects that strong confidence. While most of our program will focus on buying back shares, we know that the dividend is very important to many of our investors."
Earlier, Apple had announced to return $130 billion to shareholders by end of year 2015. Apple currently has $193.5 billion in cash and marketable securities.
Activist investor Carl Icahn started the campaign to push Apple management to return the extra cash to shareholders couple of year back. Icahn had expressed confidence in Apple’s abilities to generate enough cash flows in future to fund stock repurchase program.
Apple announced 33 percent increase in quarterly net profit. The success of iPhone 6 and higher sales in China has offered support to Apple’s revenue. Apple registered 27 percent increase in sales at $58 billion for the quarter. Market analysts have revised their price targets for Apple as the company continues to outperform.
The overall ‘asthma epidemic’ among children has...Read More
People in huge numbers gathered in the Mount Lofty...Read More
As New Year is approaching, people have already...Read More
Alzheimer’s disease, the commonest cause of...Read More
Cases of opioid abuse have been increasing and...Read More
In an announcement made on December 22, cable giant...Read More