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April 24, 2014

Apple to increase buyback, split stock

CUPERTINO, Calif. (AP) — Apple plans to buy back an additional $30 billion of its stock, raise its quarterly dividend by 8 percent and split its stock for the first time in nine years.

The commitment announced Wednesday as part of Apple's fiscal second-quarter earnings report expands on the company's previous pledge to spend $60 billion on stock buybacks by the end of next year. The company is now earmarking $90 billion for buybacks during that time frame.


 
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