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Home Companies 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.

 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.

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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.

Tags: News Review
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Nairametrics

Nairametrics is Nigeria's top business news and financial analysis website. We focus on providing resources that help small businesses and retail investors make better investing decisions. Nairametrics is updated daily by a team of professionals. Post updated as "Nairametrics" are published by our Editorial Board.

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