Tuesday, March 20, 2012

Apple Inc will start paying its first dividends in July 2012

Apple Inc will start paying its first dividends in July 2012 ; Apple Inc. chief executive Tim Cook, moving swiftly after taking over from the late Silicon Valley icon Steve Jobs, fulfilled a longstanding desire of investors by initiating a quarterly dividend and share buyback that will pay out $45 billion US over three years.

The world's most valuable technology company will start paying its first dividends since 1995 - a regular quarterly payout of $2.65 US a share - in July, and buy back up to $10 billion US of its stock beginning in the next fiscal year.

The $10-billion US annual dividend program, which Cook said will be reviewed periodically, ranks among the largest current U.S. corporate cash payouts.

But he told analysts Monday that "making great products" remained Apple's top priority, echoing the sentiments of Jobs, who died in October after a years-long battle with cancer.

When Cook was announced as CEO, many on Wall Street worried he lacked Jobs' vision for devising groundbreaking consumer electronics. But Apple's shares have gained more than 50 per cent since Jobs' death and set a record above $600 last week as investors noted the assurance with which Cook has taken the reins.

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