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Apple Expands Capital Return Program to Over $130 Billion

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Apple today announced that its Board of Directors has authorised another significant increase to the Company’s program to return capital to shareholders.  The Company expects to utilise a total of over $130 billion of cash under the expanded program by the end of calendar 2015. 

As part of the program, the Board has increased its share repurchase authorisation to $90 billion from the $60 billion level announced last year. The Company expects to continue to utilise about $1 billion annually to net-share-settle vesting restricted stock units. 

Additionally, the Board has approved an increase to the Company’s quarterly dividend of approximately 8 percent and has declared a dividend of $3.29 per common share, payable on May 15, 2014 to shareholders of record as of the close of business on May 12, 2014. The Company also plans to increase its dividend on an annual basis. With annual payments of $11 billion, Apple is among the largest dividend payers in the world.  

From August 2012 through March 2014, Apple has spent $66 billion in cash on its capital return program.

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To assist in funding the program, the Company expects to access the public debt markets during 2014, both domestically and internationally, for an amount of term debt similar to what the Company raised during 2013. The management team and the Board of Directors will continue to review each element of the capital return program regularly. 

“We are announcing a significant increase to our capital return program,” said Tim Cook, Apple’s CEO. “We’re confident in Apple’s future and see tremendous value in Apple’s stock, so we’re continuing to allocate the majority of our program to share repurchases.  We’re also happy to be increasing our dividend for the second time in less than two years.”

The Board of Directors has also announced a seven-for-one stock split.  Each Apple shareholder of record at the close of business on June 2, 2014 will receive six additional shares for every share held on the record date, and trading will begin on a split-adjusted basis on June 9, 2014.  

Joanne Carter, creator of the world’s most popular mobile photography and art website— TheAppWhisperer.com— TheAppWhisperer platform has been a pivotal cyberspace for mobile artists of all abilities to learn about, to explore, to celebrate and to share mobile artworks. Joanne’s compassion, inclusivity, and humility are hallmarks in all that she does, and is particularly evident in the platform she has built. In her words, “We all have the potential to remove ourselves from the centre of any circle and to expand a sphere of compassion outward; to include everyone interested in mobile art, ensuring every artist is within reach”, she has said. Promotion of mobile artists and the art form as a primary medium in today’s art world, has become her life’s focus. She has presented lectures bolstering mobile artists and their art from as far away as the Museum of Art in Seoul, South Korea to closer to her home in the UK at Focus on Imaging. Her experience as a jurist for mobile art competitions includes: Portugal, Canada, US, S Korea, UK and Italy. And her travels pioneering the breadth of mobile art includes key events in: Frankfurt, Naples, Amalfi Coast, Paris, Brazil, London. Pioneering the world’s first mobile art online gallery - TheAppWhispererPrintSales.com has extended her reach even further, shipping from London, UK to clients in the US, Europe and The Far East to a global group of collectors looking for exclusive art to hang in their homes and offices. The online gallery specialises in prints for discerning collectors of unique, previously unseen signed limited edition art. Her journey towards becoming The App Whisperer, includes (but is not limited to) working for a paparazzi photo agency for several years and as a deputy editor for a photo print magazine. Her own freelance photographic journalistic work is also widely acclaimed. She has been published extensively both within the UK and the US in national and international titles. These include The Times, The Sunday Times, The Guardian, Popular Photography & Imaging, dpreview, NikonPro, Which? and more recently with the BBC as a Contributor, Columnist at Vogue Italia and Contributing Editor at LensCulture. Her professional photography has also been widely exhibited throughout Europe, including Italy, Portugal and the UK. She is currently writing several books, all related to mobile art and is always open to requests for new commissions for either writing or photography projects or a combination of both. Please contact her at: joanne@theappwhisperer.com

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