Apple Cash Returning to Investors via Stock Buyback, Dividends This Spring?
According to Quartz’s sources, Apple’s effort to return more cash to investors will materialize in additional dividends or a share buyback program, with the move coming this spring.
Seems that despite Tim Cook calling the Einhorn lawsuit a “silly sideshow”, the hedge fund manager’s complaint has had the desired results: Some of the cited sources say Apple increased the size of its initial plan – which was in the works before Einhorn publicized his complaint.
According to the press release issued a year ago, Apple’s plan was to initiate a quarterly dividend of $2.65 per share and a $10 billion share repurchase program projected to cost the company $45 billion over three years.
Apple’s new plan to return more cash comes on top of the aforementioned program, Quartz’s sources said, although it is unclear how much cash Apple will return to investors at this moment.
Interestingly, the Quartz report suggests that the unveiling of the new cash distribution plan could come alongside upgrades to the iPhone and/or iPad mini.