Apple plans to initiate dividend and share repurchase program

A statement by Apple this morning has confirmed the company will start paying dividends to investors and buy back US $10 billion in shares starting this year.

Subject to declaration by the Board of Directors, the Company plans to initiate a quarterly dividend of $2.65 per share sometime in the fourth quarter of its fiscal 2012, which begins on July 1, 2012.

Additionally, the Company's Board of Directors has authorized a $10 billion share repurchase program commencing in the Company's fiscal 2013, which begins on September 30, 2012.

Additional details will be available during Apple's conference call which begins Monday at 6:00 a.m. PDT. You can listen to the call on Apple's website, or follow along with our liveblog kicking off shortly.