Apple Distributes Bounties And Buy Backs

Apple Inc, the world’s most valuable firm has announced to start a quarterly dividend and fulfilled a long awaited desire of shareholders by assuring to buy back shares worth $45 billion during next 3 years.

Company’s CEO, Tim Cook declared that Apple will review its $10 billion annual dividend program from time to time. Apple has already sold 3 million of its hottest 4G tablet computers setting a record of a first-weekend sale.

Tim Cook echoed desire of his predecessor, Steve Jobs, who died last October after a protracted illness. Under Steve Jobs, the company followed the policy of capital preservation and maintaied a cash pile. When Tim Cook was appointed as CEO of the company, Wall Street was afraid that he does not have supernatural vision of Steve Jobs. But against all predictions, share price of Apple soared by over 50% since Steve Jobs’ demise and established a record of above $600 during last week. This indicates the confidence with which Tim Cook has managed affairs of the company.

On Monday, Apple shares ended at $601.10. When Steve Jobs was at the helm of affairs, Tim Cook was part of Apple’s amazing success.

Previous Post »  
Tags: , , , ,
Leo Pierson

About Leo Pierson

Former partner in a real estate management firm, Leo, has been active in the market for the last 8 years. Ex-blogger on penny stocks, now focused on long term growth stocks, Leo provides valuable market snapshots each day as part of our editorial team.

Comments are closed.