“A little more than six months into his job as Apple’s CEO, Tim Cook did something his predecessor Steve Jobs wouldn’t do: reward the shareholders with a direct cash payment,” John Shinal reports for MarketWatch.
“He is also injecting several billion dollars of wealth into a wide variety of investor accounts,” Shinal reports. “That’s a welcome bit of cash that the U.S. economy needs right now. So if you’ve stayed in the stock market while others have moved their money into bonds or money market accounts, give yourself a pat on the back — you’ll benefit from the decision made by Cook and the Apple board.”
Shinal reports, “As for Cook, he owned 13,754 shares of Apple stock as of Dec. 17, according to the company’s latest proxy filing. At $2.65 a share per quarter, Cook stands to receive an annual dividend payment of about $145,000. If that seems woefully small for the man at the helm of the Apple empire, note that this sum doesn’t include another 1,362,500 unvested restricted stock units owned by Cook as of December.”
Much more in the full article, including which mutual funds stand to benefit from Apple’s dividend plan, here.
MacDailyNews Note: As we reported on March 19th, “At Tim Cook’s request, none of his unvested Apple Inc. RSUs will participate in the dividend.”