Apple confirms it will pay first dividend since 1995

Technology giant Apple has announced it will return cash to shareholders for the first time since 1995, deploying some of its $98bn cash mountain, while also committing to a share buyback programme.

In an announcement after midday, Apple said it will pay a quarterly dividend of $2.65 a share, from the fourth quarter of its fiscal year, which begins in July. Apple's board has also approved a $10 billion share buyback scheme which will begin in 2013. It said the repurchase program should run for three years in total, with Apple expecting to spend $45bn in total in the next three years. "We have used some of our cash to make great investments in our business through increased research and development, acquisitions, new retail store openings, strategic prepayments and capital expe...