Apple will return $200 billion to shareholders
Advertisement
REUTERS/Denis Balibouse
Advertisement
Along with its earnings announcement, the company said that it will increase its capital return program by 50% to $200 billion through March 2017.
The company raised its dividend to $0.52 per share from $0.47 and increased its buyback authorization to $140 billion from $90 billion.
In a statement, Apple CEO Tim Cook said that "most of our program will focus on buying back shares."
The company said it plans to tap debt markets to fund this program.
Advertisement
The iPhone maker reported earnings and revenue that topped expectations, and in after hours trade on Monday, shares of the company were up about 2%.
Advertisement
- In second consecutive week of decline, forex kitty drops $2.28 bn to $640.33 bn
- SBI Life Q4 profit rises 4% to ₹811 crore
- IMD predicts severe heatwave conditions over East, South Peninsular India for next five days
- COVID lockdown-related school disruptions will continue to worsen students’ exam results into the 2030s: study
- India legend Yuvraj Singh named ICC Men's T20 World Cup 2024 ambassador