“At a Goldman Sachs GS +1.02% technology conference Tuesday, Mr. Cook said Mr. Einhorn’s idea of distributing a ‘perpetual preferred’ stock that could pay a dividend yield of 4% was ‘creative’ and worth investigating,” Stahl and Gryta report. “However, he said, Apple’s proxy proposal wouldn’t prevent that from happening because the company would seek shareholder approval on any such move anyway.”
Stahl and Gryta report, “The CEO noted that the company is returning $45 billion to shareholders through a combination of dividends and buybacks. ‘Apple doesn’t have a depression-era mentality,’ he said in response to criticism that Apple is hoarding its money.”
Read more in the full article here.
Apple to live webcast CEO Tim Cook presentation at Goldman Sachs Conference on February 12 – February 11, 2013