Apple Inc. (NASDAQ:AAPL) announced this morning it will start a regular dividend of $2.65 a quarter from July. The company also announced plans of a share buyback program of up to $10 billion starting in fiscal year 2013. The buyback program will take place over a three year span and is aimed at offsetting the impact of employee stock options and equity grants.
Tim Cook, Apple’s CEO, said this in a statement, “We have 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.”
Apple recently released its newest iPad to the masses and analysts are once again expecting big sales for the company’s latest product.
Shares of AAPL are trading slightly higher in pre market trading with gains of about 1% at $591.