Overcast
17°FOvercastFull Forecast
Shaw Media Auctions

Apple to dole out $100 billion

NEW YORK – Apple is finally opening the doors to its bank vault, saying it will distribute $100 billion in cash to its shareholders over two years.

Apple said it will buy back $60 billion in shares – the largest buyback authorization in history. It is also raising its dividend by 15 percent.

Investors have been clamoring for Apple to give them access to its cash hoard of $145 billion. Apple’s tight grip on its cash has been blamed for the steep decline in its stock price over the winter.

Apple posted results for its latest quarter that beat expectations, though net income fell 18 percent to $9.5 billion, and revenue rose a modest 11 percent from last year to $43.6 billion. Both figures beat expectations.

Comments

Get breaking and town-specific news sent to your phone. Sign up for text alerts from the Northwest Herald.

Comments

Reader Poll

What's your favorite outdoor winter activity?
Sledding
Snowmobiling
Ice skating
Ice fishing
Other