“Apple Inc. (AAPL) plans to pay a dividend and buy back $10 billion of its stock, returning some of its $97.6 billion in cash and investments to shareholders as demand for iPhones and iPads boosts earnings,” as Bloomberg reports.
“Investors will receive a quarterly dividend of $2.65 a share starting in the period beginning July 1, Cupertino, California-based Apple said today in a statement. The buybacks will begin in the fiscal year starting Sept. 30 and will take place over three years, the company said.
“Apple’s cash pile has swelled amid surging demand for its products, such as the iPhone and iPad. Investors had urged Apple to return some of the balance in the form a dividend.
The rest of the article is here.
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Frankly, it was getting to the point where they had to. A company can not just sit on that much cash. The question becomes, how much profit is enough?
I think this belies that idea that letting companies amass money via lower taxes creates jobs here in the USA. Though paying dividends may allow a stockholder here and there to create a job in this country, what has created the jobs at Apple is their making great products that both generate and meet consumer demand. Sadly, the vast number of jobs created are offshore, not here. And Apple is keeping its offshore money offshore to avoid contributing to this great country of ours via taxes.
I still love my iPad. Apple makes great products. The service I’ve gotten at the Apple Store is unparalleled. My questions about the money and jobs take nothing away from this.
Republicans have fired up their job creation furnace, and it is going to blazes…
http://www.flickr.com/photos/keachie/6995218755/in/photostream/lightbox/
And as CEOs, whose over-whelmingly favorite comics character when young was Uncle Scrooge McDuck, have out sourced whatever jobs are created, I wonder if the gated communites and golf courses will still be immune from the wrath of the rabble.
As my former partner in my Killington, VT. ski condo development–on land my father bought, and brought him in on, when they worked together in the 50′s at CBS in NYC, and which I bought out my father’s interest upon returning from Nam in ’69–told me, most business is done on the golf course. He would have known, as while still at CBS, he started a magazine called Golf Digest, then sold it to the New York Times, and became president of their magazine division. While there, also started US magazine, but NYT had People magazine executives on BOD and US was sold. But I believe what he said. No one around to hear the insider trading deals being made or other such type info. Although I knew him from about six years old, the old time Vermonters didn’t like his NYC BS, and in 1980, $700,000 in debt, I had to move to VT to try and save project, which I did. He also started the golf Seniors Tour. Good business man in the area he knew, but a first class manipulator, and worse, like so many CEOs these days. A face to face, obscenity laden, shouting match over a sleezy deal–which I fought against until it fell apart $60,000 later– with another NYC big wig, similiar in type to those exposed at Goldman Sachs the other day, along with cancellation of marriage (could have been a sitcom) and I headed west, TX then CA.
Funny thing is, I was no business person, just a history guy, but I never tried to bs people, especially many of those old time Vermonters and was able to restore integrity to our project and dis-associate my good name from his B S. BTW, living in a ski resort town in the 80′s was a blast, if you get my (snow) drift.
I know I go on too long, but the condos can be viewed by Googling Moon Ridge Condos, Killington, VT. There is usually one or two on the market.
So dad gets a new IPad.
http://www.wimp.com/dadipad/
I wound up on the wrong topic, sorry for the double post, here it applies.
I always chuckled at Aaron Klein’s staunch defense of Blackberry for years after Apple was ID’ed as superior here and elsewhere. It sort of reminded me of Judith Lowry’s mention of being “stubbornly backward” in the foothills, at least for some. Well, I’m glad our Sierra College Trustee is now on board:
http://blog.aaronklein.com/post/41945375820/all-in-on-apple-in-early-2011-i-was-using-a