Apple to Pay Dividend: There is no denying the fact that Valentine’s Day is a time to show loved ones just how much you care for them. But do you really expect a big company like Apple Inc. (NASDAQ:AAPL) to do the same? Well, this year the answer is yes.
According to a report by AppleInsider, “Apple will pay shareholders its third dividend tomorrow, distributing roughly $2.5 billion at $2.65 per share across the company’s 939 million outstanding shares.”
Sure, this is likely a coincidence but many people are going to feel the love from the Cupertino-based tech company on or around February 14, 2013.
It is hard to imagine a company that has so much money that they don’t know what to do with it all. However, this is the position that Apple Inc. (NASDAQ:AAPL) finds itself in.
The same article by AppleInsider goes on to add the following:
“Flush with billions in cash it simply can’t spend fast enough, Apple first announced plans for its dividend program in March, alongside a $10 billion share buyback program. Each quarter, the company said it would pay shareholders a $2.65 per share dividend.”
While there is no denying that this is going to make shareholders happy, it is nice to know that CEO Tim Cook feels the same way. The article goes on to add a couple of quotes from the head man as he says the company has “used some of our cash to make great investments in our business through increased research and development, acquisitions, new retail store openings, strategic prepayments and capital expenditures in our supply chain, and building out our infrastructure. You’ll see more of all of these in the future.”
He added the following:
“Even with these investments we can maintain a war chest for strategic opportunities and have plenty of cash to run our business. So we are going to initiate a dividend and share repurchase program.”
In other words, this is not going to hinder the ability of Apple Inc. (NASDAQ:AAPL) to move forward in a strategic manner with an eye towards bigger and better things in the future.
Are you going to feel the love from Apple this Valentine’s Day? Share your thoughts on this story in the comment section below.
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DISCLOSURE: I have no positions in any stock mentioned.
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