Apple announces $100 billion share repurchase authorizationToday, as Apple reported its second quarter results, it announced the approval of a $100 billion share repurchase authorization.
Today, Apple released its Q2 financial results as it does every quarter. Among other news for investors, Apple's CFO Luca Maestri announced that the company's board has "approved a new $100 billion share repurchase authorization and a 16 percent increase in our quarterly dividend":
Our business performed extremely well during the March quarter, as we grew earnings per share by 30 percent and generated over $15 billion in operating cash flow. With the greater flexibility we now have from access to our global cash, we can more efficiently invest in our US operations and work toward a more optimal capital structure.
For those of you unfamiliar, share repurchasing is when a company elects to buy back some of its own shares from the stock marketplace, lowering the amount of outstanding shares.
What's more, the company plans to complete the execution of t...
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Apple announces $100 billion share repurchase authorization
