Apple's Piece of the Pie

APPLE’S PIE RUNNETH OVER: Apple plans to initiate a quarterly dividend of $2.65 a share to stockholders sometime in the fourth quarter of its fiscal year, which begins July 1. The Board of Directors has also authorized a $10 billion share repurchase program commencing in fiscal 2013, which begins Sept. 30. The repurchase program is expected to be executed over three years, utilizing approximately $45 billion of the $97.6 billion in funds it had on the books at the end of 2011. Commented Apple CFO Peter Oppenheimer: “We are extremely confident in our future and see tremendous opportunities ahead.” Brother, can you spare a free iPad 3? (3/19a)