Apple’s $US45 billion payout bonanza

The tech giant’s new CEO Tim Cook may be putting his own stamp on the brand by loosening the purse strings but Steve Jobs' mantra of ‘making great products’ is still his number one priority.

Apple CEO Tim Cook has moved swiftly after taking over from the late Silicon Valley icon Steve Jobs, to fulfill a longstanding desire of investors by initiating a quarterly dividend and share buyback that will pay out $US45 billion over three years.

The world's most valuable company will start paying its first dividends since 1995 - a regular quarterly payout of $US2.65 a share - in July, and buy back up to $US10 billion of its stock beginning in the next fiscal year.

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