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On page 31 under Capital Return Program, Apple explains its program to repurchase stock. How much had Apple spent to repurchase stock by September 30,
On page 31 under Capital Return Program, Apple explains its program to repurchase stock. How much had Apple spent to repurchase stock by September 30, 2017?
Capital Return Program In May 2017, the Company's Board of Directors increased the total capital return program from $250 billion to $300 billion, which included an increase in the share repurchase authorization from $175 billion to $210 billion of the Company's common stock. Additionally, the Company announced that the Board of Directors raised the Company's quarterly cash dividend from $0.57 to $0.63 per share, beginning with the dividend paid during the third quarter of 2017. The Company intends to increase its dividend on an annual basis, subject to declaration by the Board of Directors. As of September 30, 2017, $166 billion of the share repurchase program had been utilized. The Company's share repurchase program does not obligate it to acquire any specific number of shares. Under the program, shares may be repurchased in privately negotiated or open market transactions, including under plans complying with Rule 10b5-1 under the Exchange Act. The following table presents the Company's dividends, dividend equivalents, share repurchases and net share settlement activity from the start of the capital return program in August 2012 through September 30, 2017 (in millions) Dividends and Dividend Equivalents Paid Accelerated Share Repurchases Open Market Share Repurchases Taxes Related to Settlement of Equity Awards Total 2017 2016 2015 2014 2013 2012 12,769 S 12,150 11,561 11,126 10,564 15,000 $ 12,000 18,001 $ 17,000 30,026 24,000 9,000 1,874 $ 1,570 1,499 1,158 1,082 47,644 42,720 49,086 57,284 34,596 2,544 233,874 6,000 21,000 13,950 2,488 60,658 $ 56 Total 67,950 $ 98,027 $ 7,239 $ The Company expects to execute its capital return program by the end of March 2019 by paying dividends and dividend equivalents, repurchasing shares and remitting withheld taxes related to net share settlement of restricted stock units. The Company plans to continue to access the domestic and international debt markets to assist in funding its capital return programStep by Step Solution
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