AAPL: Apple starts share buybacks
Apple (AAPL) announced a $10 billion share buyback and a $2.65-per-share quarterly dividend to be paid out going forward. AAPL buybacks are starting out relatively small, but they have room to raise the buyback amount.
Apple (AAPL) announced a $10 billion share buyback and a $2.65-per-share quarterly dividend to be paid out going forward. AAPL buybacks are starting out relatively small, but they have room to raise the buyback amount.
This morning Apple ($AAPL) announced a $10 billion share buyback and a $2.65-per-share quarterly dividend to be paid out going forward - a yield of roughly 1.77% at today's prices around $600.聽 Apple was smart to start relatively small, it gives the company room to raise both the buyback amount (should the stock get hit) and the dividend on a regular basis.
The company sits on over $100 billion in cash, equal to roughly a hundred dollars a share.聽 It is also generating an obscene amount of new cash, $16 billion in the last quarter alone.
Here's CEO Tim Cook via MarketWatch:
This was pretty much what I expected although the yield is slightly below the 2.5% The Street "wanted".聽 Apple does a great job at pretending it cares about what Wall Street wants.
Move along folks, nothing to see here, business as usual for the greatest company on earth.