Along with revealing last quarters monstrous profits, Tim Cook has announced that Apple is increasing its capital buyback program to the tune of $140 billion.
Apple’s Board of Directors have authorized an increase of more than 50 percent to the company’s program to return capital to shareholders. Under the new plans, Apple will give a total of $200 billion in cash back to stock holders by the end of March 2017.
“We believe Apple has a bright future ahead, and the unprecedented size of our capital return program reflects that strong confidence,” said Tim Cook, Apple’s CEO. “While most of our program will focus on buying back shares, we know that the dividend is very important to many of our investors, so we’re raising it for the third time in less than three years.”
You can read the full press release below: