Apple CEO downplays special dividend at shareholder meeting [Tribune] 14 Feb, 2018

The Apple logo is seen on a computer screen in an illustration photo taken in Bordeaux, France, February 1, 2017.PHOTO: REUTERS Apple Chief Executive Tim Cook downplayed a suggestion that the company might issue a special dividend to shareholders with some of the $285 billion in cash that the company is now able to bring back from overseas.At an annual shareholder meeting at Apple Park in Cupertino on Tuesday, Cook responded to a question on whether the company might double its dividend in the wake of changes to United States tax laws that allowed corporations to bring back overseas cash at lower tax rates than before.Apple to release software update to resolve iPhone slowdown“Special dividends, I‘m not really a fan of,” Cook responded. “But in terms of annual increases in the dividend, it is something that this board and management are committed to doing.”Cook said the company would provide an update on its capital return program during its April earnings call with investors, as it has done for the past several years.At the meeting, shareholders defeated two shareholder proposals, one asking that rules allowing shareholders to nominate directors to the board be eased, and another asking for a human rights committee at Apple.The proxy access measure asked Apple to reconsider its rules for shareholders to nominate directors; the rules say that a group of no more than 20 shareholders must hold 3 per cent of Apple’s stock in order to nominate a director for one of the eight director positions. The proposal did not pass, with 67.8 per cent of shareholders voting against it.Apple confirms ‘no service’ issue with iPhone 7Another proposal urged Apple to create a human rights panel to oversee issues such as workplace conditions and censorship in China and to report results back to the public. The proposal was defeated, with 94.4 per cent of shareholders voting against it.Apple had recommended that shareholders vote against both of the measures.Shareholders approved four measures put forth by the company, including a required “say on pay” vote to approve pay for executives and a measure on re-electing the current directors.Shares of Apple were up 0.1 per cent at $162.84.

More News

Google's marketing head describes Pakistan as fast emerging 'digital-first country'

18 Nov, 2018 SuchTV

He wrote this in a blog post for Think with Google, a platform that hosts expert analysis for e-commerce and digital branding in the Asia-Pacific regi ... Detail

Health experts advise to use natural Aloe Vera as a skin care gel

17 Nov, 2018 Radio Pakistan

The health experts have advised to use natural Aloe Vera as a skin care gel as artificial products available in the markets are playing havoc with pub ... Detail

U.S. launches NASA's resupply mission for Int'l Space Station

17 Nov, 2018 Radio Pakistan

The United States has launched a rocket from NASA carrying a cargo with the space agency's resupply mission for International Space Station.Antares ro ... Detail

US regulator settles with tech startups over token sale violations

17 Nov, 2018 Tribune

The US Securities and Exchange Commission logo adorns an office door at the SEC headquarters in Washington, June 24, 2011.PHOTO: REUTERS WASHINGTON:Th ... Detail

Tesla starts taking Model 3 orders in China

17 Nov, 2018 Tribune

A parking lot of predominantly new Tesla Model 3 electric vehicles is seen in Richmond, California, US June 22, 2018. Picture taken June 22, 2018.PHOT ... Detail

Post Your Comments
Type your Comments / Review in the space below.
Verify Code