Apple Plans Payout, Buyback

Value investors and mutual funds are likely to pile into Apple (AAPL), already a widely held stock, after the tech titan said it will pay a quarterly dividend of $2.65 a share, starting after midyear. The iPhone and iPad maker, which ended ’11 with $98 bil cash, also OK’d a 3-year, $10 bil share buyback in fiscal ’13, which begins Sept. 30. Shares rose nearly 3% to a new record close.

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