Apple announced on Monday its plans for the almost $100 billion in cash that company has stockpiled over the years. This cash was accumulated through the sales of its popular iPad, iPod, and Macintosh computers. Apple plans on offering a quarterly dividend of $2.65 per share starting in its fourther quarter as well as using $10 billion dollars to repurchase shares.
According to their press release:
Subject to declaration by the Board of Directors, the Company plans to initiate a quarterly dividend of $2.65 per share sometime in the fourth quarter of its fiscal 2012, which begins on July 1, 2012.
Additionally, the Company’s Board of Directors has authorized a $10 billion share repurchase program commencing in the Company’s fiscal 2013, which begins on September 30, 2012. The repurchase program is expected to be executed over three years, with the primary objective of neutralizing the impact of dilution from future employee equity grants and employee stock purchase programs.
This program is anticipated to utilize approximately $45 billion over the next three years.