“Apple appears likely to return some of the cash on its balance sheet to shareholders, AlphaOne Capital CIO Dan Niles said Tuesday on CNBC,” Bruno J. Navarro reports for CNBC. “‘I think they told you they’re going to do something with the money,’ he said, citing the company’s response to activist investor David Einhorn’s request for a preferred dividend.”
“Niles said the company has made ‘progress’ with its cash, noting that the company under Cook reintroduced a dividend just five months after co-founder and former CEO Steve Jobs died,” Navarro reports. “Jobs had opposed paying a dividend.”
Navarro reports, “Niles looked to Apple’s shareholder meeting on Feb. 27. ‘That’s the earliest you should be expecting anything, and they’ve told you they’re going to move,’ he said.”
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