Apple Expands Capital Return Program to $200 Billion

Apple today announced that its board of directors has authorized an increase of more than 50 percent to the company’s program to return capital to shareholders. Under the expanded program, Apple plans to utilize a cumulative total of $200 billion of cash by the end of March 2017. As part of the revised program, the board has increased its share repurchase authorization to $140 billion from the $90 billion level announced last year. In addition, the company expects to continue to net-share-settle vesting restricted stock units. The board has also approved an increase of 11 percent to the company’s quarterly dividend, and has declared a dividend of $0.52 per share, payable on May 14, 2015, to shareholders of record as of the close of business on May 11. “We believe Apple has a bright future ahead, and the unprecedented size of our capital return program reflects that strong confidence,” said Tim Cook, Apple’s CEO. “While most of our program will focus on buying back shares, we know that the dividend is very important to many of our investors, so we’re raising it for the third time in less than three years.”