Apple now offering the largest dividends of any corporation in the world, possesses $257 billion in cash reserves

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Date: Tuesday, June 13th, 2017, 05:00
Category: Apple, Finance, Microsoft, News

It looks like Apple is now paying the largest dividends of any company in the world.

Apple is now the world’s largest payer of dividends after increasing its quarterly payout by 10.5% to 63 cents a share, according to data compiled by Howard Silverblatt, senior index analyst at S&P Dow Jones Indices LLC. Now boasting $13.2 billion in annual distributions, Apple has dethroned Exxon Mobil, the previous global dividend king.

At present, Apple is now distributing more in quarterly dividends than the entire market cap of US Steel, Silverblatt points out.


To put a value on it, if the announced increase were paid out this month, Apple would have to potential to set a new S&P 500 monthly cash dividend record of $51.6 billion.

Apple also recently announced that it will set up a $35 billion fund to buy back its own shares, thereby bringing its total share repurchase plan to $210 billion. The expansion of stock buybacks is likely intended to bolster Apple’s share price — a tactic big companies often use.

The company is currently sitting on a $257 billion cash pile, more than double that of Microsoft.

While Apple’s share price slid 1.1% in pre-market trading after missing sales estimates, its stock is up 27% this year, more than four times the S&P 500.

Stay tuned for additional details as they become available.

Via Business Insider

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