Apple plans to increase dividend, approves executive compensation, says report

CNBC reported that Apple Inc is planning to increase dividend according to Chief Executive Tim Cook. — Apple Inc handout via Reuters
CNBC reported that Apple Inc is planning to increase dividend according to Chief Executive Tim Cook. — Apple Inc handout via Reuters

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SAN FRANCISCO, Feb 24 ― Apple Inc is planning to increase dividend according to Chief Executive Tim Cook, CNBC reported yesterday, citing the shareholder meeting.

The company's shareholders also approved compensation for Apple executives for fiscal 2020, the report said.

Shareholders will not vote until next year's annual meeting on Cook's September grant of 333,987 restricted stock units, his first major stock package since 2011, which took effect at the start of Apple's fiscal 2021.

It grants him stock units with a possibility to earn as many as 667,974 more if he hits performance targets.

Apple, the biggest US listed public company by market capitalization with a value of US$2.1 trillion (RM8.5 trillion), has thrived during the pandemic even though it had to temporarily shut several stores.

The company's board had declared a cash dividend of US$0.205 per share of the company's common stock in the holiday quarter. ― Reuters

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