Go Back   MacRumors Forums > News and Article Discussion > MacRumors.com News Discussion

 
 
Thread Tools Search this Thread Display Modes
Prev Previous Post   Next Post Next
Old Feb 7, 2013, 02:47 PM   #1
MacRumors
macrumors bot
 
Join Date: Apr 2001
Apple Issues Statement About Returning Cash to Shareholders




Apple has issued a press release reiterating its commitment to return some of its extremely large cash pile to shareholders, saying that Apple management and the Board of Directors are in "active discussions" about how to return cash to shareholders.

This follows letter sent to Apple shareholders this morning by Greenlight Capital [PDF], a major Apple shareholder, arguing that the company "must examine all of its options to unlock the growing value of its balance sheet".

Apple's statement:
Quote:
By early last year, Apple's cash balance had built to a point beyond what we needed to run our business and maintain flexibility to take advantage of strategic opportunities, so we announced a plan to return $45 billion to shareholders over three years. As of next week we will have executed $10 billion of that plan.

We find ourselves in the fortunate position of continuing to generate large amounts of cash, including $23 billion in cash flow from operations in the last quarter alone.

Apple's management team and Board of Directors have been in active discussions about returning additional cash to shareholders. As part of our review, we will thoroughly evaluate Greenlight Capital's current proposal to issue some form of preferred stock. We welcome Greenlight's views and the views of all of our shareholders.
Apple's stock price rose sharply in the minutes following the release.

Article Link: Apple Issues Statement About Returning Cash to Shareholders
MacRumors is offline   2 Reply With Quote

 
MacRumors Forums > News and Article Discussion > MacRumors.com News Discussion

Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Similar Threads
thread Thread Starter Forum Replies Last Post
Highlights from Apple's Preliminary Proxy Statement, 2014 Shareholders Meeting Proposals MacRumors MacRumors.com News Discussion 125 Jan 6, 2014 07:53 AM
Apple Issues Statement in Support of Supreme Court Gay Marriage Rulings MacRumors Politics, Religion, Social Issues 366 Jun 26, 2013 04:04 PM
Highlights from Apple's Preliminary Proxy Statement, Shareholders Meeting Questions MacRumors MacRumors.com News Discussion 14 Dec 29, 2012 01:37 PM
Apple Issues Statement Over Day 1 'Maps' Glitches, Maps Team Reportedly Under Lockdown to Fix Issues MacRumors MacRumors.com News Discussion 1023 Oct 27, 2012 06:32 PM
Apple Issues Statement on EPEAT Registry Withdrawal MacRumors MacRumors.com News Discussion 210 Jul 14, 2012 05:47 PM

Forum Jump

All times are GMT -5. The time now is 12:08 AM.

Mac Rumors | Mac | iPhone | iPhone Game Reviews | iPhone Apps

Mobile Version | Fixed | Fluid | Fluid HD
Copyright 2002-2013, MacRumors.com, LLC