GIVING BACK: Apple says it will reward its shareholders with a dividend that will begin in the quarter that starts July 1, and a $10 billion share buyback program that will run for three years starting Sept. 30.
CHANGE OF GUARD: Former CEO Steve Jobs resisted calls to issue dividends for years. He argued that the money was better used to give Apple maneuvering room to, for instance, make strategic acquisitions. On Monday, new CEO Tim Cook said a dividend won’t restrain the company’s options.
IT HAS THE MONEY: Apple sits on $97.6 billion in cash and securities.
