Mike Peterson
Apple has announced that it has authorized a new share buyback program totaling $90 billion and is raising its dividend by 5%.
The announcement came after Apple reported stronger-than-expected results for the March quarter, with revenues totaling $94.0 billion.
Apple raised its dividend to $0.23 per share, up 5%. It is payable on May 12 to shareholders of record as of the close of business on May 9.
Since 2012, Apple has been buying back its own shares at an extraordinary rate — Apple is known for spending more on share repurchases than similar tech giants like Meta or Alphabet. Apple's total share repurchases have totaled $274.5 billion, with just $20.4 billion in the December quarter.
Apple spent $85.5 billion to repurchase shares in 2021, and issued $14.5 billion in dividends.
Companies generally buy back their own stock for a number of reasons, including consolidation and to drive value for shareholders — generally meaning a higher share price.
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19 Comments
My IRA thanks you, AAPL. Good job, Mr. Cook and company.
I’m waiting for the ‘innumerati’ to chime in on how share buybacks are like throwing money in the fireplace. 😆
With a stable large company like Apple, stock buybacks are great incentive to hold the stocks long. Thanks to good management the price generally (over years) goes up, bumped along with some extra oomph by those buybacks. I have no complaints about them buying back copious numbers of shares as long as the staff (at all levels) are well compensated and they don't scrimp on R&D at all.