It’s been a busy few days for Apple, as the company followed up the U.S. launch of its latest iPad by announcing what it plans to do with its stockpile of nearly $100 billion in cash.
In this video from IDG News Service, Macworld senior associate editor Dan Moren talks about third-generation iPad sales and Apple’s plans to introduce a stock dividend to its shareholders.
This video was recorded prior to Apple’s official announcement that it had sold 3 million iPads over the weekend. All that Apple would confirm earlier on Monday was that the iPad enjoyed “a record weekend” in the now-modest words of CEO Tim Cook.
Cook made those comments during a conference call to divulge Apple’s plans for its $97.6 billion worth of cash holdings—namely, that the company would begin to offer a dividend in its fiscal fourth quarter. Shareholders will get $2.65 a share, which will make Apple one of the largest dividend payers in the U.S. In addition, starting in its 2013 fiscal year, Apple will begin to buy back $10 billion worth of its stock.