Apple More Than Doubles Capital Return Program to $100 Billion
Alongside today's earnings release, Apple also announced a major increase in its capital return program, boosting the previous $45 billion program to $100 program.
The company announced a 15% increase in dividend payments, but Apple is making a significant increase in its stock buyback initiative, taking advantage of the company's depressed stock price to reduce the amount of stock available on the market.
The Company expects to utilize a total of $100 billion of cash under the expanded program by the end of calendar 2015. This represents a $55 billion increase to the program announced last year and translates to an average rate of $30 billion per year from the time of the first dividend payment in August 2012 through December 2015.
As part of this program, the Board has increased its share repurchase authorization to $60 billion from the $10 billion level announced last year. This is the largest single share repurchase authorization in history and is expected to be executed by the end of calendar 2015. Apple also expects to utilize about $1 billion annually to net-share-settle vesting restricted stock units.
As part of the newly-expanded capital return program, Apple does plan to take on debt and will announced its plans on that aspect of the program at a later date.
“We are very fortunate to be in a position to more than double the size of the capital return program we announced last year,” said Tim Cook, Apple’s CEO. “We believe so strongly that repurchasing our shares represents an attractive use of our capital that we have dedicated the vast majority of the increase in our capital return program to share repurchases.”
Apple notes that it will continue to evaluate its capital return strategy on an annual basis and will look to optimize the use of excess cash through its mix dividends, stock buybacks, and settling of restricted stock unit grants to employees.
Following Apple's announcement, Moody's gave Apple an Aa1 credit rating with a stable outlook, indicating that the company's obligations should be considered of high quality and hold low credit risk.
Popular Stories
Earlier this year, YouTuber Jon Prosser shared multiple videos showing off what he claimed to be re-created renderings of what was then presumed to be called iOS 19 and which was eventually unveiled by Apple as iOS 26 at WWDC in June.
In his first video back in January, Prosser showed off a Camera app redesign with a simpler set of buttons for moving between photo and video modes, and he...
Apple's next-generation iPhone 17 Pro and iPhone 17 Pro Max are less than two months away, and there are plenty of rumors about the devices.
Below, we recap key changes rumored for the iPhone 17 Pro models.Aluminum frame: iPhone 17 Pro models are rumored to have an aluminum frame, whereas the iPhone 15 Pro and iPhone 16 Pro models have a titanium frame, and the iPhone X through iPhone 14 Pro ...
We have just under two months to go until the debut of Apple's iPhone 17 models, and rumors have been ramping up in recent weeks. We went through everything we know so far, pulling out the most exciting rumors and highlighting some other changes that aren't going to be so great.
Top Tier
Ultra Thin iPhone 17 Air - The iPhone 17 Air is 2025's most exciting iPhone rumor, because it's the...
Apple's long-rumored foldable iPhone will likely have a starting price between $1,800 and $2,000 in the U.S., analysts at investment banking firm UBS said this week. If so, the foldable iPhone would cost more than a MacBook Pro, which starts at $1,599.
With a starting price of at least $1,800, the foldable iPhone would be the most expensive iPhone model ever released, topping the Pro Max at...
Apple previously announced that a public beta of iOS 26 would be available in July, and now a more specific timeframe has surfaced.
Bloomberg's Mark Gurman today said that Apple's public betas should be released on or around Wednesday, July 23. In other words, expect the public betas of iOS 26, iPadOS 26, macOS 26, and more to be available at some point next week.
Apple will be releasing...
We may finally have a definitive list of all color options for the iPhone 17 series, ahead of the devices launching in September.
MacRumors concept
In a report for Macworld today, Filipe Espósito said he obtained an "internal document" that allegedly reveals all of the color options for the upcoming iPhone 17, iPhone 17 Air, iPhone 17 Pro, and iPhone 17 Pro Max models.
The report includes ...
The battery capacity of Apple's rumored iPhone 17 Air will be below the 3,000 mAh mark, according to a recent post from Instant Digital, an account with more than 1.4 million followers on Chinese social media platform Weibo.
Thanks to iOS 26's new Adaptive Power Mode, though, the account said that the iPhone 17 Air should achieve full-day battery life.
A previous rumor pegged the iPhone...
Apple is expected to hold its annual iPhone announcement event during the week of September 8, 2025, with September 9 or 10 emerging as the most likely dates. Like the iPhone 16 series, this year's lineup is expected to include four models – but with a twist. The Plus device is being replaced with an all-new ultra-thin model, while the iPhone 17 Pro and iPhone 17 Pro Max are set to...
Apple's next-generation iPhone 17 Pro and iPhone 17 Pro Max are only two months away, and there are plenty of rumors about the devices.
Below, we recap key changes rumored for the iPhone 17 Pro models.
Latest Rumors
These rumors surfaced in June and July:A redesigned Dynamic Island: It has been rumored that all iPhone 17 models will have a redesigned Dynamic Island interface — it might ...