Apple Announces Dividend, Stock Buyback
Black Enterprise Magazine September/October 2018 Issue

The world's most valuable company is giving cash back to its shareholders (Image: Apple)

If you’ve been wondering what the world’s most valuable company plans to do with its $97.6 billion cash stash, the answer came on Monday.

Apple announced it will begin giving shareholders a quarterly dividend of $2.65 per share in its fourth quarter, which begins in July, and a $10 billion share repurchase program, reports CNN Money. The buyback will begin in October.

“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,” Apple CEO Tim Cook said in a prepared statement.

“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 program,” he added.

The last time Apple offered a dividend was in 1995.

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Sade K. Muhammad

Sadé Muhammad is a news intern at BlackEnterprise.com. Before Black Enterprise, she was a fashion writer for Jonesmagazine.com, blogger and research intern for Niaonline.com, and a marketing and web intern for WPVI-TV/6ABC in Philadelphia, PA. Sadé is a senior magazine journalism major and honors student at the Newhouse School of Public Communications at Syracuse University. With a passion for empowerment and solidarity among women of color, she is developing a print and online lifestyle magazine catering to this very audience for her senior thesis. When she’s not writing, she is talking fashion, travel, and Knicks basketball.


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