Apple today announced plans to initiate a stock buyback and dividend with its ever growing stockpile of cash. The stock buyback program will be worth $10 billion while the dividends, set to be paid during the Q4 of 2012, will be $2.65 a share.
MacRumors has the full rundown of the conference call held earlier today with Tim Cook and Peter Oppenheimer.
Some noted points of interest include the data point that iPhone sales during the last quarter (37 million) only represented approximately 9% of all handset sales.
– iPhone. Eventually all handsets will be smartphones. Enormous potential
– We are innovated at an incredible pace. App ecosystem, iCloud, Siri.
– Used some for R&D, acquisitions, strategic pre-payments, retail, and building out of infrastructure. You will see more of these in the future.
– Innovation is our most important objective.
Lastly, during the Q&A portion of the conference call, Cook said that Apple’s new iPad experienced a record weekend with respect to sales. No specific numbers, however, were given.