Apple has announced it will raid its vast coffers to pay out a dividend to its shareholders, claiming it won’t affect further investments.
Since the Cupertino firm last paid a dividend – way back in 1995 – Apple has managed to amass almost $100 billion down the back of its sofa and is now keen to pay some of this out.
This will involve a $2.65 per share dividend paid from July. The firm will also buy back up to $10 billion in shares over the next financial year.
In a phone statement, CEO Tim Cook said that the firm will not let up on its investment in its supply chain, with more money to be spent on distribution, including opening even more Apple stores.
He claimed that even with today’s “investments” Apple is able to “maintain a war chest” and has plenty of change left over to fund any future endeavours it may embark up on.
The financial decision “will not close any doors” for the firm, he said, claiming that it will continue to splash out on acquisitions, R&D, and more in the future.
Whether this R&D funding will go to its iPad development team, which seems to be running out of ideas, is another question. But if Cook expects his reiterated plans for tablets to outdo PC sales soon then they might need something more than the addition of a fancy screen.
Apple stock rose even higher today, reaching $600 per share, and setting a new record for the most valuable company in the world.