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Home Industries Company News

Innovative This? Apple Plans 7 For 1 Stock Split…May Finally Join The Dow

Nairametrics by Nairametrics
April 24, 2014
in Company News
Innovative This? Apple Plans 7 For 1 Stock Split…May Finally  Join The Dow
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Apple has a announced plans to carry out a 7 for 1 stock split that will see its outstanding shares increase 7 times and share price drop in tandem. This announcement is on the back of its most recent quarter result where it  posted earnings of $11.62 a share, on revenue of $45.6 billion as it sold 43.7million iPhone sales.

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 The company, which posted quarterly earnings and revenue that topped estimates Wednesday, announced plans to boost its stock buyback program, raise its dividend and split its stock 7-for-1, sending shares nearly 8 higher in the after-hours trading.

A Reuters article suggest the stock split may just be a way for America’s largest company to join the Dow Jones Industrial Average of 30 prestigious US stocks.

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