News: Apple plans to increase dividend, approves executive compensation – CNBC.
(Reuters) – Apple Inc plans to increase its dividend, according to Tim Cook, chief executive, CNBC reported Tuesday, citing the annual general meeting.
The company’s shareholders also approved compensation for Apple executives for fiscal 2020, the report said. (cnb.cx/2ZIjRcj)
Shareholders will not vote on Cook’s September grant of 333,987 restricted stock units until next year’s annual meeting, his first major block of shares since 2011, which went into effect early in Apple’s fiscal year 2021.
It gives him units of stock with the ability to earn up to 667,974 more if he meets performance goals. (reut.rs/3spbsGT)
Apple, the largest US publicly traded company by market cap valued at $ 2.1 trillion, did well during the pandemic, despite temporarily closing several stores.
The company’s board of directors approved a cash dividend of $ 0.205 per common share of the company during the vacation quarter.
(This story corrects the heading, paragraph 2.3, to remove the reference to the CEO’s share payout after CNBC corrected.)
Reporting by Chavi Mehta in Bengaluru; Adaptation by Arun Koyyur
Original Source © Reuters