Apple Set for $10B Stock Buyback

All that bad press about working conditions at Apple-affiliated factories apparently hasn’t caused the computer giant any significant economic harm; in fact, the company, bolstered by booming sales of its shiny new iPad, is planning to spread the wealth among shareholders this summer.

Los Angeles Times:

Apple Inc. said today it will begin spending part of its nearly $100-billion cash stockpile on a quarterly dividend, as well as a three-year stock buyback program.

The company said it will pay shareholders $2.65 per share each quarter beginning in Apple’s fiscal fourth quarter, which starts July 1. The company said it hopes the dividend will make Apple stock a more attractive investment to wider base of investors, including those looking to make regular income from owning the stock.

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