Company authorizes buyback as well, will plow through $45B
(NEWSER) - Apple shareholders ought to be even happier with the company than usual this morning, as the gadgets giant announced plans to spend $45 billion of its $97 billion in cash reserves on a buyback and a dividend program. Of that, $10 billion will go to a buyback authorization—though Business Insider cautions that Apple has merely given itself the option to buy back shares, not actually committed to doing so. The rest of the money will go to a $2.65-per-share quarterly dividend, which will start in its fiscal fourth quarter, which begins July 1. It's the first dividend Apple has offered since 1995, notes CNN . More»
