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Apple CEO: Company Has More Money Than We Actually Need

Apple CEO, Tim Cook, recently stated that Apple has much more amount of money than the company requires.

The next issue on the CEO's agenda is the deliberation of whether they should continue with the strategy upheld by the late Steve Jobs or to just use the $98 billion sitting in Apple's bank account as a method of paying the shareholders their respective dividend for 2012.

At the annual shareholders' meeting held last Thursday, Cook hinted that the company board had almost reached a conclusion concerning the aforementioned issue.

Cook informed the board as well as the management that they were contemplating the matter: "This isn't a case where 100 per cent of people are going to agree with what we do," reported USA Today.

Even though past records show that Apple stopped paying their shareholders back in 1995, Cook now feels that Apple has more money than they truly need.

During the meeting the company received some valuable advice, with one proposal suggesting not to pay shareholders for their dividends every quarter and instead give them a one off annual payment. The company is yet to make a final decision and it seems they are near enough ready to share their profit with the shareholders on a more practical basis.

Mariel Norton is a self-confessed girly geek with a penchant for technology, and joins ITProPortal with just over a year's experience under her online belt. A copywriter by day and a freelance writer by night/weekend, Mariel is an avid volunteer - lending her charitable services throughout the world. Specialising in social media, apps, and video games, Mariel hopes to intertwine her love of technology with the English language to produce amusing anecdotes of ambiguous algorithms and alliteration