Apple announce dividend and share repurchase program as its stock value lingers around 600

Apple CEO Tim Cook announced in a Conference Call today a new dividend and share repurchase program. The company announced its plan to initiate a new quarterly dividend of $2.65 per share sometime during Q4 of fiscal 2012 beginning in July. In addition to the share dividend, Cook announced a new repurchase program for up to $10 billion that will commence after three years in fiscal 2013. Apple said it hopes the new program will help neutralize “the impact of dilution from future employee equity grants and employee stock purchase programs.”

Full press release follows. Audio of the conference call here.

Apple Announces Plans to Initiate Dividend and Share Repurchase Program

 

Expects to Spend $45 Billion Over Three Years

CUPERTINO, California—March 19, 2012—Apple® today announced plans to initiate a dividend and share repurchase program commencing later this year.

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 programs.

“We have used some of our cash to make great investments in our business through increased research and development, acquisitions, new retail store openings, strategic prepayments and capital expenditures in our supply chain, and building out our infrastructure. You’ll see more of all of these in the future,” said Tim Cook, Apple’s CEO. “Even with these investments, we can maintain a war chest for strategic opportunities and have plenty of cash to run our business. So we are going to initiate a dividend and share repurchase program.”

“Combining dividends, share repurchases, and cash used to net-share-settle vesting RSUs, we anticipate utilizing approximately $45 billion of domestic cash in the first three years of our programs,” said Peter Oppenheimer, Apple’s CFO. “We are extremely confident in our future and see tremendous opportunities ahead.”

Apple will provide live streaming of a conference call to discuss its plans beginning at 6:00 a.m. PDT on Monday, March 19, 2012 at www.apple.com/quicktime/qtv/call31912. The Company will not be providing an update on the current quarter nor will any topics be discussed other than cash. This webcast will also be available for replay for approximately two weeks thereafter.

This press release contains forward-looking statements including without limitation those regarding future business outlook and plans for dividends and share repurchases. These statements involve risks and uncertainties, and actual results may differ. Risks and uncertainties include without limitation the effect of competitive and economic factors, and the Company’s reaction to those factors, on consumer and business buying decisions with respect to the Company’s products; continued competitive pressures in the marketplace; the ability of the Company to deliver to the marketplace and stimulate customer demand for new programs, products, and technological innovations on a timely basis; the effect that product introductions and transitions, changes in product pricing or mix, and/or increases in component costs could have on the Company’s gross margin; the inventory risk associated with the Company’s need to order or commit to order product components in advance of customer orders; the continued availability on acceptable terms, or at all, of certain components and services essential to the Company’s business currently obtained by the Company from sole or limited sources; the effect that the Company’s dependency on manufacturing and logistics services provided by third parties may have on the quality, quantity or cost of products manufactured or services rendered; risks associated with the Company’s international operations; the Company’s reliance on third-party intellectual property and digital content; the potential impact of a finding that the Company has infringed on the intellectual property rights of others; the Company’s dependency on the performance of distributors, carriers and other resellers of the Company’s products; the effect that product and service quality problems could have on the Company’s sales and operating profits; the continued service and availability of key executives and employees; war, terrorism, public health issues, natural disasters, and other circumstances that could disrupt supply, delivery, or demand of products; and unfavorable results of other legal proceedings. More information on potential factors that could affect the Company’s financial results is included from time to time in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of the Company’s public reports filed with the SEC, including the Company’s Form 10-K for the fiscal year ended September 24, 2011 and its Form 10-Q for the fiscal quarter ended December 31, 2011. The Company assumes no obligation to update any forward-looking statements or information, which speak as of their respective dates.

Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and is defining the future of mobile media and computing devices with iPad.

Apple boasts 500,000+ apps for App Store, 100+ million downloads from Mac App Store

Apple has just issued a Press Release this morning announcing that the Mac App Store has now surpassed over a hundred billion downloads, and that the App Store now has over half a million apps under its banner since its inception with over 18 billion downloads, growing at the rate of more than a billion downloads a month.

“In just three years the App Store changed how people get mobile apps, and now the Mac App Store is changing the traditional PC software industry. With more than 100 million downloads in less than a year, the Mac App Store is the largest and fastest growing PC software store in the world.” – Philip Schiller, Apple’s senior vice president of Worldwide Marketing.

Full Press Release below:

Apple’s Mac App Store Downloads Top 100 Million

CUPERTINO, California—December 12, 2011—Apple® today announced that over 100 million apps have been downloaded from the Mac® App Store™ in less than one year. With thousands of free and paid apps, the Mac App Store brings the App Store experience to the Mac so you can find great new apps, buy them using your iTunes® account, and download and install them in just one step. Apple revolutionized the app industry with the App Store, which now has more than 500,000 apps and where customers have downloaded more than 18 billion apps and continue to download more than 1 billion apps per month.

“In just three years the App Store changed how people get mobile apps, and now the Mac App Store is changing the traditional PC software industry,” said Philip Schiller, Apple’s senior vice president of Worldwide Marketing. “With more than 100 million downloads in less than a year, the Mac App Store is the largest and fastest growing PC software store in the world.”

“With Autodesk products in both the App Store and Mac App Store, we can reach hundreds of millions of Apple users around the world,” said Amar Hanspal, senior vice president of Platform Solutions and Emerging Business at Autodesk. “With our free AutoCAD WS and the more powerful professional drafting tools of AutoCAD LT, we’re using the Mac App Store to deliver new products and reach a growing base of new Mac customers.”

“The Mac App Store has unparalleled reach and has completely transformed our distribution and development cycle,” said Saulius Dailide of the Pixelmator Team. “Offering Pixelmator 2.0 exclusively on the Mac App Store allows us to streamline updates to our image editing software and stay ahead of the competition.”

“In less than one year we’ve shifted the distribution of djay for Mac exclusively to the Mac App Store,” said Karim Morsy, CEO of algoriddim. “With just a few clicks, djay for Mac is available to customers in 123 countries worldwide. We could never have that reach through traditional channels.”

The Mac App Store offers thousands of apps in Education, Games, Graphics & Design, Lifestyle, Productivity, Utilities and other categories. Users can browse new and noteworthy apps, find out what’s hot, see staff favorites, search categories and look up top charts for paid and free apps, as well as user ratings and reviews. The Mac App Store is included with Mac OS® X Lion and is available as a software update for any Mac running Mac OS X Snow Leopard®. For more information visit, www.apple.com/mac/app-store.

Mac developers set the prices for their apps, keep 70 percent of the sales revenue, are not charged for free apps and do not have to pay hosting, marketing or credit card fees. To find out more about developing for the Mac App Store visit, developer.apple.com/programs/mac.

Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and has recently introduced iPad 2 which is defining the future of mobile media and computing devices.

Press Contacts:
Colin Smith
Apple
colins@apple.com
(408) 862-1171

Bill Evans
Apple
bevans@apple.com
(408) 974-0610

Apple, the Apple logo, Mac, Mac OS, Macintosh, App Store, iTunes and Snow Leopard are trademarks of Apple. Other company and product names may be trademarks of their respective owners.

HP sack Leo Apotheker; Meg Whitman is new CEO and President

And.. another one bites the dust. A little over 2 weeks ago we saw Carol Bratz fired as Yahoo CEO and today it was Leo Apotheker’s chance to get the boot from HP.  He has been replaced by former eBay CEO and one time candidate for California governor, Meg Whitman.

Whitman’s appointment comes  at a crucial and somewhat difficult time for the company — their stock price has plummeted 47 percent, their $1.2 billion mobile OS floundered and they are considering spinning off their PC business. But she’s no pushover, as can be seen from the fact that she was an integral part in growing eBay from a startup with just a couple of dozen staff members to one of the most popular destinations on the internet.

Whitman said, “I am honored and excited to lead HP. I believe HP matters – it matters to Silicon Valley, California, the country and the world.” The company also announced today that Ray Lane is moving from a non-executive chairman role to executive chairman of the board of directors, and that the board intends to appoint a lead independent director “promptly.”

Press release follows…

HP Names Meg Whitman President and Chief Executive Officer

Ray Lane appointed executive chairman; Léo Apotheker steps down as president, chief executive officer and director

PALO ALTO, Calif.–(BUSINESS WIRE)–HP (NYSE: HPQ) today announced that its board of directors has appointed Meg Whitman as president and chief executive officer.

“We are fortunate to have someone of Meg Whitman’s caliber and experience step up to lead HP”

In addition, Ray Lane has moved from non-executive chairman to executive chairman of the board of directors, and the board intends to appoint a lead independent director promptly. These leadership appointments are effective immediately and follow the decision that Léo Apotheker step down as president and chief executive officer and resign as a director of the company.

“We are fortunate to have someone of Meg Whitman’s caliber and experience step up to lead HP,” said Lane. “We are at a critical moment and we need renewed leadership to successfully implement our strategy and take advantage of the market opportunities ahead. Meg is a technology visionary with a proven track record of execution. She is a strong communicator who is customer focused with deep leadership capabilities. Furthermore, as a member of HP’s board of directors for the past eight months, Meg has a solid understanding of our products and markets.”

Whitman said, “I am honored and excited to lead HP. I believe HP matters – it matters to Silicon Valley, California, the country and the world.”

Speaking on behalf of the board, Lane said, “We very much appreciate Léo’s efforts and his service to HP since his appointment last year. The board believes that the job of the HP CEO now requires additional attributes to successfully execute on the company’s strategy. Meg Whitman has the right operational and communication skills and leadership abilities to deliver improved execution and financial performance.”

About HP

HP creates new possibilities for technology to have a meaningful impact on people, businesses, governments and society. The world’s largest technology company, HP brings together a portfolio that spans printing, personal computing, software, services and IT infrastructure at the convergence of the cloud and connectivity, creating seamless, secure, context-aware experiences for a connected world. More information about HP is available at http://www.hp.com.

This news release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including but not limited to statements of the plans, strategies and objectives of management for future operations, including execution of growth strategies, transformation initiatives and restructuring plans; any statements concerning expected development, performance or market share relating to products and services; any statements regarding anticipated operational and financial results; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include macroeconomic and geopolitical trends and events; the competitive pressures faced by HP’s businesses; the development and transition of new products and services (and the enhancement of existing products and services) to meet customer needs and respond to emerging technological trends; the execution and performance of contracts by HP and its customers, suppliers and partners; the protection of HP’s intellectual property assets, including intellectual property licensed from third parties; integration and other risks associated with business combination and investment transactions; the hiring and retention of key employees; expectations and assumptions relating to the execution and timing of growth strategies, transformation initiatives and restructuring plans; the resolution of pending investigations, claims and disputes; and other risks that are described in HP’s Quarterly Report on Form 10-Q for the fiscal quarter ended July 31, 2011 and HP’s other filings with the Securities and Exchange Commission, including but not limited to HP’s Annual Report on Form 10-K for the fiscal year ended October 31, 2010. HP assumes no obligation and does not intend to update these forward-looking statements.

© 2011 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. HP shall not be liable for technical or editorial errors or omissions contained herein.

Via Engadget

It’s Official,Apple to release Lion OS,iOS 5 and iCloud at WWDC 2011

Almost everyday a new Apple news come and more often than not most of them are fake or predictions but this time its official directly from the headquarters of Apple.

In a press release today Apple informed that it would release the Lion OS,iOS 5 and iCloud at WWDC 2011.

Apple’s Press Release below

CUPERTINO, California—May 31, 2011—Apple® CEO Steve Jobs and a team of Apple executives will kick off the company’s annual Worldwide Developers Conference (WWDC) with a keynote address on Monday, June 6 at 10:00 a.m. At the keynote, Apple will unveil its next generation software – Lion, the eighth major release of Mac OS® X; iOS 5, the next version of Apple’s advanced mobile operating system which powers the iPad®, iPhone® and iPod touch®; and iCloud®, Apple’s upcoming cloud services offering.

WWDC will feature more than 100 technical sessions presented by Apple engineers. Mac® developers will see and learn how to develop world-class Mac OS X Lion applications using its latest technologies and capabilities. Mobile developers will be able to explore the latest innovations and capabilities of iOS and learn how to greatly enhance the functionality, performance and design of their apps. All developers can bring their code to the labs and work with Apple engineers.

For more details, visit the Apple Worldwide Developers Conference 2011 website at developer.apple.com/wwdc.

Apple designs Macs, the best personal computers in the world, along with OS X, iLife, iWork and professional software. Apple leads the digital music revolution with its iPods and iTunes online store. Apple has reinvented the mobile phone with its revolutionary iPhone and App Store, and has recently introduced iPad 2 which is defining the future of mobile media and computing devices.

 

iPhone 3GS in India: Release date, Price revealed

Just a couple of days ago we told you about Airtel’s tie up with Apple to land the iPhone 3GS in India and, less than 100 hours later, here we are with an official release date and estimated price of the Apple masterpiece.

Bharti Airtel has now issued a formal press release revealing that the iPhone 3GS will be available from Airtel all over India starting on March 26th, 2010.

So it is finally here and up for grabs from tomorrow.

Airtel also released the prices, though it claims that it could increase in states such as Maharasthra which levy extra VAT on high-end phones.

The prices may look outrageous but this is more or less what no-contract iPhones are now being sold for in the US (according to Gizmodo) plus about 30% in import duties and other taxes. While Airtel may not have control over the price of the unit, it could certainly do better than the measly 500MB per month of free data being offered to customers and that too only for a year! How about an unlimited plan to start with?

Best buy:

iPhone 3GS 8GB Rs. 29,500 (USD 651)
iPhone 3GS 16GB Rs. 35,500 (USD 783)
iPhone 3GS 32GB Rs. 41,500(USD 916)

(Approximate US$ currency conversions from xe.com’s live rates at 2010.03.24 09:47:42 GMT with the United States Dollar at 45.3 Indian Rupees)

Check official website for more info.

Like our posts? Follow Firstain on Twitter and/or join our Facebook Group to stay up-to-date with us.

Like our authors? Follow them: Aman Milwani on Twitter and/or Karan on Twitter.


Subscribe to Firstain by Email


Apple to launch iPad on April 3rd; Pre-orders begin March 12 onwards

Apple iPad - a magical and revolutionary product

After much speculation that the Apple iPad will hit the shelves later this month, iPad fans will have to wait a little longer for the 3rd April release.

Apple have released a statement announcing the availability of the news-hungry and eagerly awaited Apple iPad from Saturday, April 3rd onwards. The pre-orders, though, begin next Friday onwards from March 12.

Apple iPad will be available from April 3rd onwards

The 3rd April release will, however, be a non 3G version of the iPad, which will, with another limitation, be released only in the U.S. For other countries (Australia, Canada, France, Germany, Italy, Japan, Spain, Switzerland and the UK), the release date is late April.

April end will also see the availability of the 3G version of the iPad but thankfully at least the iBookstore will be ready for action on the April 3rd launch. For other countries, iBookstore will be available later during the year.

You can pre-order your iPad from March 12 onwards, either at the online store or at an Apple retail store in the US.

Quoting a delighted Steve Jobs: “We’re excited for customers to get their hands on this magical and revolutionary product and connect with their apps and content in a more intimate, intuitive and fun way than ever before”.

U.S pricing will be as follows:

  • 16GB WiFi only — $499
  • 32GB WiFi only — $599
  • 64GB WiFi only — $699
  • 16GB WiFi + 3G — $629
  • 32GB WiFi + 3G — $729
  • 64GB WiFi + 3G — $829

For more info, read Apple’s press release.

Subscribe to Firstain by Email