It's time once again for Apple Inc.'s annual cash bonanza.
The smartphone giant traditionally updates its dividend and buyback policies in conjunction with its March-quarter earnings report, and analysts are expecting another big payday for investors when Apple AAPL posts results Thursday afternoon.The smartphone giant traditionally updates its dividend and buyback policies in conjunction with its March-quarter earnings report, and analysts are expecting another big payday for investors when Apple AAPL posts results Thursday afternoon.
While Apple’s balance of $165 billion in cash and marketable securities is constantly pointed to as a sign of the company’s power, the straight cash position does not take into account the company’s debt, much of it incurred when it was paying shareholders dividends and buying back shares by borrowing instead of bringing cash back to the U.S. from overseas. Apple still had $111 billion in debt on its books as of the end of December, which gives it $54 billion in net cash.
BofA Securities analyst Wamsi Mohan also expects that the company will boost its dividend by 5%, to 24 cents a share, though he expects a slightly smaller increase of $80 billion to the buyback authorization. But he questions whether Apple is going far enough with its efforts to unload its net-cash position.
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