Apple Expands Capital Return Program to Over $130 Billion and Announces Seven-for-One Stock...

Discussion in 'Apple News' started by Newsbot, Apr 24, 2014.

  1. Newsbot

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    Apple has announced that its Board of Directors authorized another significant increase to the company’s program to return capital to shareholders. The company expects to use a total of over $130 billion of cash under the expanded program by the end of calendar 2015. As part of the program, the board has increased its share repurchase authorization to $90 billion from the $60 billion level announced last year. The board also approved an increase to the company’s quarterly dividend of approximately 8 percent and has declared a dividend of $3.29 per common share, payable on May 15, 2014, to shareholders of record as of the close of business on May 12, 2014. The Board of Directors has also announced a seven-for-one stock split. Each Apple shareholder of record at the close of business on June 2, 2014, will receive six additional shares for every share held on the record date, and trading will begin on a split-adjusted basis on June 9, 2014.

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    Newsbot, Apr 24, 2014
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