The consumer electronics company has more than doubled its stock repurchase program with plans to buy $100B of its shares by the end of 2015. “This is the largest share buyback of any company in history,” Apple CFO Peter Oppenheimer says. In addition, Apple raised its dividend 15% to $3.05 a share. Even so, CEO Tim Cook says that the company will still have plenty of cash for acquisitions and “will not underinvest” in new initiatives. Execs added that they plan to borrow cash, taking advantage of today’s low interest rates. The board began paying dividends in August and authorized a $10B share repurchase plan in October. Apple had $12.5B in cash from operations in the quarter and $145B on the balance sheet at the end of March.
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