Subject to declaration by the Board of Directors, the Company
plans to initiate a quarterly dividend of $2.65 per share
sometime in the fourth quarter of its fiscal 2012, which begins
on July 1, 2012.
Additionally, the Company’s Board of Directors has authorized a
$10 billion share repurchase program commencing in the Company’s
fiscal 2013, which begins on September 30, 2012. The repurchase
program is expected to be executed over three years, with the
primary objective of neutralizing the impact of dilution from
future employee equity grants and employee stock purchase
They expect to spend about $45 billion over the next three years on these programs. At their current rate of generating earnings, even with these initiatives their cash war chest should grow.