Apple projected to hike its dividend by more than 50%March 19, 2013 - 09:30 AMT PanARMENIAN.Net - Iphone maker Apple is projected to hike its dividend by more than 50% to $16 billion, giving the slumping tech titan a higher yield than the vast majority of S&P 500 companies, foxbusiness.com reports. The anticipated dividend increase comes as shareholders, led by hedge fund giant David Einhorn, push Apple to return more of its treasure trove of $150 billion of cash to shareholders. According to a new survey of six analysts by Bloomberg, Apple will probably boost its quarterly dividend by 56% to $4.14 a share, resulting in an annual payout of $15.7 billion. Predictions for a dividend increase ranged between $3.31 to $5.30 a share. If Apple elects for a dividend of $4.14 a share, the yield of 3.7% would exceed that of 86% of S&P 500 companies that pay dividends, Bloomberg said. During much of Steve Jobs’ reign as CEO, Apple shunned the notion of paying a dividend. However, the consumer electronics behemoth has come under shareholder pressure to do something with the massive stockpile of cash sitting on its balance sheet, largely overseas. In March 2012 current Apple CEO Tim Cook reinstated dividend payouts and earlier this month the company unveiled a $10 billion share buyback program. BTIG analyst Walter Piecyk slapped a “buy” rating on Apple last week, in part due to expectations that management will announce a dividend policy by the end of March. Piecyk believes there is “plenty of cash” for Apple to reveal a dividend or buyback as well as “a large acquisition that leverages its large installed base of iOS users.” Shares of Cupertino, Calif.-based Apple slid 0.45% to $441.65 in Monday’s premarkets, outperforming a 0.8% drop in the S&P 500. Apple closed last week down 37% from its all-time high of $705.07 set in September. Top stories Yerevan will host the 2024 edition of the World Congress On Information Technology (WCIT). Rustam Badasyan said due to the lack of such regulation, the state budget is deprived of VAT revenues. Krisp’s smart noise suppression tech silences ambient sounds and isolates your voice for calls. Gurgen Khachatryan claimed that the "illegalities have been taking place in 2020." Partner news Most popular in the section | Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. Armenia, Russia discuss life extension of Metsamor nuclear plant Issues regarding the extension of life of the 2nd power unit of the Armenian Nuclear Power Plant were discussed in Yerevan. Armenians stage more campaigns against territorial concessions to Azerbaijan Protesters blocked more roads across Armenia on Friday, April 26 in continuing attempts to scuttle territorial concessions to Azerbaijan. Czech-Armenian military cooperation discussed in Yerevan A delegation led by the Director General for the Industrial Cooperation Division of the Ministry of Defence of the Czech Republic visited Armenia. |