The Case For Apple's Special Dividend
by Kofi Bofah
By all measures, Apple (AAPL) is now the world's leading corporate cash cow. For its latest 2012 fiscal year ended September 29, Apple closed out its books with $121 billion in cash and securities on the balance sheet. This formidable liquidity position is largely the result of Apple's reported $51 billion in 2012 cash flow from operations. Apple executives reign from the catbird seat - with plenty of cash to burn. Shareholders, however, remain in the game to maximize total returns, which would include both dividend reinvestment and taxes. Financial markets are now effectively paralyzed, as lawmakers debate solutions to help close today's ballooning deficit gap. Dividend tax cuts, of course, remain on the table. Peter Oppenheimer, Apple CFO, can make a calculated move to return capital to shareholders before the looming and effective expiration of the Economic Growth and Tax Relief Reconciliation Act of 2001. read more »
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