Apple 2013 Annual Report Download - page 28

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In April 2013 the Company announced a significant increase to its program to return capital to shareholders by
raising the total amount it expected to utilize for the program through December 2015 to $100 billion. This
included increasing its share repurchase authorization to $60 billion and raising its quarterly dividend to $3.05
per common share beginning in May 2013. During 2013, the Company utilized $23.0 billion to repurchase
common shares and paid dividends of $10.5 billion or $11.40 per common share. In conjunction with its capital
return program, in May 2013 the Company issued $17.0 billion of notes with varying maturities through 2043.
Fiscal 2012 Highlights
Overall net sales during 2012 increased $48.3 billion or 45% compared to 2011. All of the Company’s operating
segments experienced increased net sales during 2012, primarily a result of strong demand for iPhone and iPad.
Growth in total net sales was particularly strong during the first six months of 2012, rising $34.1 billion or 66%
compared to the same period in 2011. The net sales growth during the first six months of 2012 reflected the
launch of iPhone 4s in the first quarter of 2012 and the Company’s ability to meet demand more quickly for
iPhone 4s when compared to the iPhone 4 launch. Growth during the first half of 2012 was also favorably
impacted by strong unit sales of iPad during the holiday season, resulting in a 111% increase in iPad unit sales
during the first quarter of 2012 compared to the same quarter in 2011. Partially offsetting these positive factors
was a decrease in iPod net sales experienced across all operating segments.
In October 2011, the Company introduced iPhone 4s and launched iCloud, the Company’s cloud service that
stores user data and keeps it up to date and available on multiple iOS devices and Mac and Windows personal
computers. The Company introduced the third generation iPad with Retina display in March 2012 and in June
2012 introduced the MacBook Pro with Retina display and an updated MacBook Air During the fourth quarter of
2012, OS X Mountain Lion was released and iPhone 5 was introduced.
In March 2012, the Company announced a $10 billion share repurchase program that would be executed over
three years and announced plans to initiate a quarterly dividend commencing in the fourth quarter of 2012.
During the fourth quarter, the Company paid dividends of $2.5 billion or $2.65 per common share.
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