During the announcement of financial results for the first quarter of 2014 , Apple announced an increase in the size of capital intended for payments to shareholders . Part of the program approved by the Board of Directors , is to repurchase shares worth $90 billion instead of $60 billion – the budget, claimed last year.
Apple intends to use a total of over $ 130 billion in the expanded program before the end of calendar 2015. The company still plans to annually use about $ 1 billion to settle a liability for shares with restrictions , which are due the transfer of rights , according to a press release from Apple.
During the period from August 2012 to March 2014 payments Apple Return Program capital amounted to $66 billion the company plans to ” break ” each share seven securities to make them available to a wider range of investors , said Cook. In this unusual step for the market , each shareholder will receive six additional shares on June 2 this year, and trading with the updated data will begin June 9.
The company also increased the size of its quarterly dividend by 8 % – to $3.29 per share . Next dividend payment on 15 May, and will receive its investors owning shares as of May 12. On the news , Apple shares in electronic trading after closing Nasdaq rose 8.5% – up to $569.37 .
According to Apple, the company pays an average of $11 billion per year dividend and ranks among the largest contributors in the world. From December 2012 to March 2014 Apple has returned to shareholders $66 billion – about half of the planned program .
At the end of March 2014 , Apple had $156 billion in cash and equivalent assets. The company is the second time increases the size of the program to return capital – beginning in 2012 it was set at $ 45 billion