Announcing the best first quarter results in its history, Apple announced that it has authorized a new share repurchase program totaling $90 billion and increased its dividend rate by 5% per share. The dividend will be paid out on 12 May to registered shareholders as of the end of business on 9 May.
85.5 billion dollars was spent in 2021 for share repurchase
Sharing the first quarter reports ending in March, Apple announced that it had a total revenue of 97.3 billion dollars with an annual increase of 9%. Announcing an operating profit of $29.9 billion, the company also shared that it increased its dividend by 5% to $0.23 per share.
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Apple, which is known for more share buyback spending among big tech companies like Meta and Alphabet, has made a total of $274.5 billion share repurchases so far, just $20.4 billion in the last quarter of last year.
Additionally, Apple spent $85.5 billion to buy back shares in 2021 and paid out a dividend of $14.5 billion.
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