How Apple plans to spend its leftover $98 billion: Buybacks and dividends
- $45 billion to be spent on stock buybacks and dividends
- $2.65 the amount Apple will pay per share in a dividend during each quarter, starting in July
- $10 billion the amount Apple plans to spend on stock buybacks over the next three years, starting in September source
» Figuring out how to spend its money: The company, flush with cash amid a period of unprecedented success, was reaching a point where they needed to figure out what to do with the large amount of cash they had lying around. And while investing in other companies would certainly be one way to do it, they could do that and still have plenty left over for other reasons. ”Even with these investments, we can maintain a war chest for strategic opportunities and have plenty of cash to run our business,” CEO Tim Cook said in a statement. “So we are going to initiate a dividend and share repurchase program.” Apple’s stock had greatly risen in recent weeks as investors anticipated a dividend was on the way.