Shares of Apple Inc. AAPL were trading down more than 8 percent on Tuesday’s after-hours session, following the announcement of disappointing results for the company’s fiscal second quarter.
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But, even though earnings and revenue missed estimates, sales fell for the first time since 2003, and iPhone sales dropped for the first time ever, it was not all bad news. The tech behemoth also announced a couple of shareholder-friendly measures on Tuesday afternoon.
For starters, Apple raised its quarterly dividend by almost 10 percent, from $0.52 per share to $0.57 per share. This is the fourth increase in the company’s capital return program since it first started in March of 2012.
In fact, the company decided to add $50 billion its capital return program. While $15 billion were allocated to dividend payments, the remaining $35 billion were destined to an increase in its share buyback program, which rose from $140 billion to $175 billion. However, it should be noted that the end date of the program, which was originally set for March of 2017, was moved back one year, to March of 2018.
Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.
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