Apple says its Board of Directors has authorized an increase of more than 50% to the company’s program to return capital to shareholders. Under the expanded program, Apple plans to utilize a cumulative total of US$200 billion of cash by the end of March 2017.
As part of the revised program, the Board has increased its share repurchase authorization to $140 billion from the $90 billion level announced last year. In addition, the company expects to continue to net-share-settle vesting restricted stock units.
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