Electronics, Apple Cash | featured news

Apple, one of the world’s richest companies, will reward investors with a dividend- and share-purchase program totaling $45 billion over three years, the company said Monday. In a departure from the direction of late chief executive Steve Jobs, Apple will significantly draw from its massive $98 billion cash war chest to initiate a quarterly dividend of $2.65 per share sometime in the fiscal quarter beginning July 1.

Apple has finally decided what to do with its cash hoard of nearly $100 billion. The company issued an unusual media alert on Sunday evening saying it planned to announce on Monday morning the long-awaited outcome to a discussion about what to do with its cash balance.