Apple Increases Stock Buy-Back and Dividend

Apple:

“We are very fortunate to be in a position to more than double the size of the capital return program we announced last year,” said Tim Cook, Apple’s CEO. “We believe so strongly that repurchasing our shares represents an attractive use of our capital that we have dedicated the vast majority of the increase in our capital return program to share repurchases.”

Pretty much exactly what Warren Buffett recommended.

Update: Initial reaction in after-hours trading has the stock up over 4 percent. Update 2: As the dust settles two hours later, the stock is simply even in after hours trading.

★ Tuesday, 23 April 2013