Apple Inc. (AAPL) announces 7 for 1 stock split, adds $30B to buyback program
Apple Inc. (NASDAQ:AAPL) announced that it will be increasing its dividend 8% and will be adding $30 billion to its share buyback program for a total of $90 billion. Apple is also going to split its stock 7 for 1 in June. And Apple is going to raise its dividends every year.
With a massive cash pile, Apple has been pressured to utilize its financial resources to reward investors. Billionaire activist investor Carl Icahn put a lot of money into Apple and met with CEO Tim Cook to discuss dividends.
Apple is going to pay out around $11 billion in annual dividend payments going forward. To raise additional capital, Apple will be utilizing debt markets domestically and internationally.