Apple (AAPL) Holds Off On Announcing a Dividend
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Those expecting an Apple Inc. (Nasdaq: AAPL) dividend announcement at today's shareholder meeting are out of luck.
At the meeting, CEO Tim Cook noted the company has more cash than they need to run a company, and reiterated that the board is in "active discussions" about what to do with the cash.
These comments essentially mirror what he said just last week; suggesting that while a dividend could be announced soon nothing is imminent.
Apple ended 2011 with cash and marketable securities of $97.6 billion, or about $105 per share. Investors have been clamoring for a return of some of this cash. A significant portion of Apple's cash is offshore - $64 billion, or 66% of the total.
Apple's shareholders also voted to re-elect the company's Board.
CEO Cook also indicated the company views Facebook as a "friend", not a "foe" and said the companies could do more together.
Mr. Cook also said the company is not considering a stock split. He said splits do nothing in most cases.
At the meeting, CEO Tim Cook noted the company has more cash than they need to run a company, and reiterated that the board is in "active discussions" about what to do with the cash.
These comments essentially mirror what he said just last week; suggesting that while a dividend could be announced soon nothing is imminent.
Apple ended 2011 with cash and marketable securities of $97.6 billion, or about $105 per share. Investors have been clamoring for a return of some of this cash. A significant portion of Apple's cash is offshore - $64 billion, or 66% of the total.
Apple's shareholders also voted to re-elect the company's Board.
CEO Cook also indicated the company views Facebook as a "friend", not a "foe" and said the companies could do more together.
Mr. Cook also said the company is not considering a stock split. He said splits do nothing in most cases.
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