Apple shareholders are about to receive their first dividends in 17 years. Beginning tomorrow, Aug. 16, Cupertino will begin issuing quarterly dividends of $2.65 per share, according to AppleInsider.
First announced in March, Apple’s dividend and stock repurchase plan will help the company give back a little bit of their growing stockpile of cash. With 935 million shares outstanding, Apple is expected to disburse nearly $2.5 billion in payments to investors each quarter at least through fiscal year 2015. However, this amount is small compared to the company’s accumulated holdings. In the last quarter alone, Cupertino added $7 billion in cash, with their cash hoard rising to $117 billion.
Dividends will go out to stockholders of record as of Monday, Aug. 13.
In May, Apple CEO Tim Cook announced that he would not receive dividends.