Apple CEO Leaves Investors Dangling on Future Dividend Hike - NBC Bay Area
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Apple CEO Leaves Investors Dangling on Future Dividend Hike

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    CUPERTINO, CA - SEPTEMBER 12: Apple CEO Tim Cook speaks during an Apple special event at the Steve Jobs Theatre on the Apple Park campus on September 12, 2017 in Cupertino, California. Apple is holding their first special event at the new Apple Park campus where they are expected to unveil a new iPhone. (Photo by Justin Sullivan/Getty Images)

    Apple CEO Tim Cook is leaving shareholders in suspense about whether the iPhone maker will use its windfall from a tax cut on overseas profits for a big boost to its quarterly dividend.

    A stockholder attending Apple's annual meeting Tuesday asked if Apple might double its quarterly dividend from the current 63 cents per share.

    After joking that his seat suddenly felt hot as he rose from a chair, Cook said Apple's board intends to raise the dividend in April, but he didn't provide specifics.

    Investors have been anticipating a substantial dividend increase since Apple announced plans to take advantage of a temporary tax break championed by the President Donald Trump to bring an estimated $245 billion in overseas cash back to the U.S.

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