Apple Dishes Out Largest Shareholder Payout, Ever
Posted: April 29, 2013 by Maja Johnson
On Tuesday April 23, 2013, Apple announced its financial results for the calendar Q1 and the fiscal Q2. Apple recorded revenues of $43.6 billion and a profit of $9.5 billion. Compared to last year's quarter revenue of $39.2 billion with a profit of $11.6 billion, 2013 shows a rise in revenue with a small decline in profit.
It is estimated that the company has nearly $145 billion in cash. In a recent announcement, Apple said they will release its tight grip on cash and start spending.
On May 16, 2013, Apple announced that it is planning to pay its shareholders one of the biggest dividend ever seen in the business world. Apple's shareholders will receive $11.47 billion which will make this transaction one of the largest dividend paycheck received by shareholders, ever.
By the end of 2015, the company is planning to spend a whopping $100 billion. Apple will use part of their money to pay the shareholders and the rest will be used to buy back its shares. The company said that it is planning to spend between $10 to $60 billion in one of the largest share repurchase transactions in history.
Apple released its capital return program last year with a plan to return around $45 billion in the following three years until 2015. With this new plan, the company will increase their spend limit to$100 billion at $30 billion per year.