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Apple to Buy Back $60 Billion in Shares

Apple to Buy Back $60 Billion in Shares
Posted April 24th, 2013 @ 8:24am

Apple is finally opening the doors to its bank vault, saying it will distribute $100 billion in cash to its shareholders over two years. Apple says it will buy back $60 billion in shares, the largest buyback authorization in history. It is also raising its dividend by 15 percent.

Apple is also posting results for its latest quarter that beat expectations, though net income fell 18 percent to $9.5 billion, and revenue rose a modest 11 percent from last year to $43.6 billion. Both figures beat expectations.

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