Apple is finally opening the doors to its bank vault, saying it will distribute $100 billion in cash to its shareholders over two years.
The nation’s biggest U.S. mortgage lender, based in San Francisco, said Tuesday that its next dividend is payable June 1 to shareholders of record on May 10.
Apple CEO Tim Cook is giving up $75 million in dividends on restricted stock that the company is awarding to all of its employees.
Apple’s stock has closed above $600 for the first time, the same day the company announced plans to reward its shareholders with a dividend and a share buyback program.
Apple will hold a conference call Monday morning to discuss its nearly $100 billion cash balance, the company announced Sunday afternoon.
Electronic Arts said Wednesday that its quarterly earnings rose fivefold on strong revenue from online games and titles including “Crysis 2” and “Dragon Age 2.” But its outlook disappointed investors, sending shares lower after-hours.
Cisco reported its first-ever cash dividend will amount to 6 cents per share and will be paid on April 20.
Intel, the big chip maker, said Friday that it will raise its dividend by 15 percent, providing welcome a note of optimism after network gear maker Cisco Systems Inc. helped drive stocks lower this week with a disappointing sales forecast.
Cisco Systems Inc., the world’s largest maker of computer-networking gear, said Tuesday that it would pay its first dividend by July, the end of its current fiscal year. Like several other big technology companies, Cisco has a large cash balance, and analysts have speculated that it would use it for a dividend.