As it was stated by the company officials on Tuesday, May 2, 2017, Apple reported $52.9 billion in revenues during the March quarter. That’s a significant increase from $50.6 billion last year. The company also announced that there will be a boost to the program for shareholder capital return from $200 billion to $300 billion by the end of March 2019, instead of the previously announced $250 billion.
Apple has decided to significantly increase the dividends by 10.5% to 63 cents per share and beat the Wall Street expectations of 9%. This increased dividend will be available for payment on May 15, 2017. The capital return will be also in the form of share buybacks and not just limited to dividends. This program was first initiated in 2012 and since then, it has returned $211 billion to its shareholders and another $151 billion coming via share repurchases.
What is especially interesting is that Apple is funding this program by borrowing money from domestic and international markets instead of using the immense amount of cash hoard which is currently evaluated at $256 billion.
Sources from the company reveal that the low-interest rates are making the debt Apple Inc. is overtaking a very cheap and desirable source of capital. It is also stated that the amount of the company money is located overseas and would be subject to different taxes if it gets distributed in the US.
Another interesting fact is that Apple reported a fall in iPhone sales for its second quarter. This was due to customers’ anticipation and willingness to wait for the 10th-anniversary edition of Apple’s most important product yet, which is due at the end of the year.
Apple has managed to sell 50.7 million phones in the fiscal second quarter of the year which represents a downfall from 51.2 million from the previous year.
Apple CFO Luca Maestri explained that the decline was not as bad as it seemed and that the company has reduced the volume of the inventory going through its retail channel.
Virtual Reality in Exposure Therapy: XRApplied Making it a Reality
Virtual Reality is notoriously good at tricking our brains into believing that what we’re seeing is real. In fact, VR...
Cashewrella Launches Crowdfunding Campaign for New Vegan Cheese Alternatives
The crowdfunding campaign will start in October and will be handled via the CrowdDesk platform. Cashewrella aims to raise one...
Inveready and Gaea Earmark €7 Million to Promote 53Biologics
Through this investment, Gaea and Inveready will support BDI in its organic and inorganic growth, in order to consolidate growth...
To Sustain Recovery, Businesses Need to Shore Up Cash Flow Management
CFOs from various industries say they’re prioritizing business continuity and resiliency. As a result, nearly two-thirds say they’re working diligently...
Why You Need Both a Property Manager and an Asset Manager for Your Investment Properties
Now is a great time to invest in rental homes. However, once the check has cleared on a new rental...
Cannabis2 weeks ago
Thailand Plans to Reap the Benefits of Cannabis Exports
Featured2 weeks ago
CRIF Invests in the Fintech Company Know Your Customer and Signs Strategic Partnership
Crypto2 weeks ago
Lesser-Known Digital Tokens to Outperform Bitcoin and Ethereum
Featured2 weeks ago
Ener2crowd Exceeds 3 Million and Becomes a Benefit Company