Apple cleans up ‘cashpile’

Apple, plans to spend 45 billion dollar on a substantial dividend and buy back own shares. The company thus meets the wishes of shareholders.

With over 100 billion dollar in cash, Apple has a lot of money. More than needed, recognizes CEO Tim Cook. The board of directors of Apple decided that the some of this money has to be spent. Shareholder will geta dividend of $ 2.65 per share. That will cost 35 billion dollors. In addition, Apple will buy shares for 10 billion dollars starting 2013. The number of shares available in the market is thereby reduced.

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After the cleanup, Apple still has 55 billion dollar in cash, still a substantial amount, according to Tim Cook. To get an idea of the amount: to the current market value, Apple is still able to buy RIM, the maker of BlackBerry smartphones, almost four times, and pay it cash.


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