Apple Inc the tech giant which is known for its revolutionary and "Resolutionary" iPhone's and iPads will pay a dividend to its share holders, says news. The Silicon Valley king is valued at $546 million has $98 million cash and securities stacked up.
Apple last paid a dividend in 1995, data shows. Just after its stock touched the $600-per share mark, Apple issued a short press note stating that it would hold a conference call on Monday to discuss the matter and what is it doing about its cash balances.
Apple CEO , Tim Cook recently said he had been "thinking very deply" about investors' demands that Apple return some of the cash to shareholders and issue dividends. "Frankly speaking, it's more than we need to run the company," Tim Cook announced at the annual shareholders meeting held last month this year.
With hopes that the new iPad will keep sales returns momentarily strong, helped shoot the stock to a record as high as $600 a share.
The conference is to be to be held at 1300 GMT on Monday but Apple will not provide an update on the current quarter nor will it touch up on any topics, the company said in a statement.