Apple CEO Tim Cook has admitted that its stash of $97.6bn in cash and investments is "more than we need to run a company".
The cash pile is on top of the increasing value of the company's shares, which have gone up 28% this year alone.
Influential company shareholders are pressing for something to be done with the hoard of cash. And this is the first indication that Apple may use at least some to pay back shareholders in the form of dividends.
The last time Apple paid a dividend was in 1995, before Steve Jobs returned to the company as CEO and brought it back from the brink of bankruptcy.
“The board and management team are thinking about this very deeply,” Cook told the company's annual shareholders meeting.Paying dividends could mean a long-term boost to Apple's share price, because it could attract new investors, who bank on dividends being paid out.
It's believed Apple is planning to launch a new iPad in March, an internet-connected TV set in summer and a new iPhone in autumn.
(Source: Bloomberg)
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