“Flush with billions in cash it simply can’t spend fast enough, Apple has begun the process of issuing its first quarterly dividend to shareholders in 17 years,” Daniel Eran Dilger reports for AppleInsider.

“Apple announced its plans for a new dividend program in March, alongside a $10 billion share buyback program. Each quarter, the company stated it will pay its shareholders a $2.65 per share dividend,” Dilger reports. “Shareholders of record as of Monday August 13 will be paid dividends on Thursday, the company has announced.”

Dilger reports, “Over the next three years, Apple has stated that its buyback and dividend plans will distribute $45 billion from its cash pile. Across the company’s 935 million outstanding shares, the quarterly dividend will amount to nearly $2.5 billion in payments to investors each quarter. ”

Read more in the full article here.

[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]

Related articles:
Apple’s dividend will drive shares higher this quarter and beyond; expect higher dividend payouts over time – July 24, 2012
Apple could be the greatest dividend growth stock of all time – May 29, 2012
U.S. Apple investors, beware looming expiration of Bush era tax cuts – March 22, 2012
Valuentum: Expect double-digit dividend growth from Apple for some time to come – March 20, 2012
Apple announces plans to initiate dividend and share repurchase program; expects to spend $45 billion over three years – March 19, 2012