Apple announces record $110 billion share buyback and dividend increase

Apple has announced the largest share buyback in the company's history, worth $110 billion.

Here's What We Know

Apple's CFO Luca Maestri emphasised the high level of customer loyalty and satisfaction as one of the key reasons for such a large-scale share buyback. He also assured of the company's confidence in its future and the value of its shares.

The announced dividend increase is 4%, bringing it to $0.25 per share. Shareholders who hold shares before 13 May 2024 will receive their dividends on 16 May.

This step is part of Apple's strategy to raise dividends for the second time in twelve consecutive years.

From 2012 to the end of 2022, Apple spent more than $572 billion on share buyback programmes. In 2019, Tim Cook said that it was investor Warren Buffett who taught both him and Steve Jobs the value of share buybacks.

Source: AppleInsider