Apple rules out special dividend

Apple's Wearables Business Revenue Is Fortune 300-Class Company Says Tim Cook

Apple's Wearables Business Revenue Is Fortune 300-Class Company Says Tim Cook

Cook, who predicted in October 2016 that Apple would help to kill cash, affirmed his interest at the shareholders' meeting in seeing the elimination of money in his lifetime, even though using smart phones for mobile payments was not catching on as quickly as he first hoped. "Transformational M&A would result in a collision of different cultures and priorities, which Apple has thus far avoided", he wrote. But Apples board of directors and management are "committed" to increasing their annual dividend payment to shareholders, he added.

Cook was asked if shareholders would receive a special dividend this year as part of Apple bringing hundreds of billions of dollars in cash back to the US.

Apple is taking its health goals beyond wellness apps and devices in an attempt to make a "significant contribution" in healthcare, CEO Tim Cook told shareholders at Apple's annual meeting Tuesday, according toCNBC.

Apple is already collaborating with the U.S. Food and Drug Administration for a pilot programme to help the agency figure out how to regulate lower-risk digital health products. But he reassured shareholders that he views Apple as having a "great position", in the sector, by taking a more consumer-friendly approach. A shareholder asked Cook if the tech firm was considering doubling its dividend under new United States tax laws allowing corporations to repatriate overseas profits and benefit from a lower rate.

Prodded by the lower rate on foreign profits, Apple will pay a $38 billion on its repatriated cash and use some of the money to hire 20,000 more US workers and build a second corporate campus in the country to supplement its sprawling headquarters in Cupertino, California.

"After they've paid their taxes and repatriation, Apple will have somewhere around $230 billion in cash". If the rate on overseas profits had remained unchanged, Cook said Apple and other USA companies would have left the money sitting in foreign accounts. In 2013 to be a Fortune 500 company you needed at least $4.825 billion in revenue. "We want to pay and for wanting to pay we'd like to use the residual profits to invest in this country", Cook explained.

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