Apple reveals dividend programme

Maker of the iPhone, Apple, has revealed plans to reward its shareholders by establishing a new dividend and share repurchase scheme later this year.

Shareholders are scheduled to receive a payment of €1.99 per share during Apple's fiscal fourth quarter, which begins on July 1.

The company's board of directors has also given the go ahead for a €7.5 billion share repurchase programme, due to coincide with the beginning of Apple's new financial year on September 30.

It is anticipated that the repurchase scheme will last more than three years, with its number one aim being to neutralise the effect of dilution from future employee equity grants and employee stock purchase programmes.

CEO of Apple, Tim Cook, said: "We have used some of our cash to make great investments in our business through increased research and development, acquisitions, new retail store openings, strategic prepayments and capital expenditures in our supply chain, and building out our infrastructure. You'll see more of all of these in the future.

"Even with these investments, we can maintain a war chest for strategic opportunities and have plenty of cash to run our business. So we are going to initiate a dividend and share repurchase programme."

More News

Telia lowers Uzbek fine expectations, finally sells Tcell, as it reports Q1 numbers Telia lowers Uzbek fine expectations, finally sells Tcell, as it reports Q1 numbers Telia has said it hopes to pay less than anticipated for alleged corruption in Uzbekistan, as it finally sold off its opco in Tajikistan. More detail
KPN sees wholesale problems add to its business woes in Q1 KPN sees wholesale problems add to its business woes in Q1 KPN’s wholesale arm registered a double-digit decline in sales in the first three months of the year, although the operator made headway on improving its profits. More detail
Swedish operators investigated over preventing new market entrants Swedish operators investigated over preventing new market entrants Mobile network operators in Sweden are being investigated for potentially having breached EU antitrust rules. More detail
BICS set to acquire TeleSign for $230 million BICS set to acquire TeleSign for $230 million Proximus subsidiary BICS is set to acquire TeleSign as it seeks to expand its presence in cloud communications. More detail
Ericsson hits new low on operating loss, "unacceptable" performance at IT, cloud arm Ericsson hits new low on operating loss, Ericsson CEO Börje Ekholm described the vendor’s latest financial performance as “unsatisfactory” as it saw sales and profits tumble. More detail
    

@eurocomms