No dividend, buyback in apple plans
- Select a language for the TTS:
- UK English Female
- UK English Male
- US English Female
- US English Male
- Australian Female
- Australian Male
- Language selected: (auto detect) - EN
Play all audios:
CUPERTINO, CALIF — . -- Apple Inc. has no plans to declare a dividend or buy back its stock, Chief Executive Steve Jobs told the company’s annual shareholder meeting Tuesday, adding that
iPhone sales were on track. Jobs said he was confident Apple would hit its 2008 sales target of 10 million iPhones, a figure that some analysts have questioned, and executives said the
iPhone would reach Asian markets this year. When asked about a possible dividend or stock buyback, Jobs said, “At this time, we have no plans to do either.” Apple’s stockpile of cash and
short-term investments topped $18 billion at the end of 2007, leading to speculation the company might spend some of its cash reserves. Shares of Apple closed up $2.89, or 2.4%, at $124.62.
MORE TO READ