Apple has more cash than it needs, CEO says |
| Fox News - Feb 24, 2012 |
Apple CEO Tim Cook says he believes the world's most valuable company has more money than it needs. His next challenge is to figure out whether Apple should break from the cash-hoarding ways of his predecessor, the late Steve Jobs, and dip into its $98 billion bank account to pay shareholders a dividend this year.
During a question-and-answer session Thursday at the company's annual shareholders' meeting, Cook indicated he and the rest of Apple's board are nearing a decision.
The board and management are "thinking about this very deeply," Cook said. "This isn't a case where 100 percent of people are going to agree with what we do."
The question of how to handle Apple's cash stockpile is a touchy one, partly because company co-founder Jobs had steadfastly brushed aside suggestions that the company restore its quarterly dividend. Apple stopped making the shareholder payments in 1995 when it was in such deep trouble that it needed to hold on to every cent.
Read Full Article from Fox News
- Posted: 2012-02-24 14:58:53
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