Apple rules out special dividend

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Apple CEO Tim Cook (AAPL) on Tuesday downplayed the possibility that the tech giant could offer its shareholders a special dividend due to recent changes to the US corporate tax code that allowed companies to repatriate global cash at a lower tax rate, a key provision in President Trump's tax reform plan. But didn't giving any other specifics. "Annual increases in the dividend [are] something that this board and this management team is committed to doing", he said.

The shareholders also asked Apple to reconsider its rules for shareholders to nominate directors, which say that a group of no more than 20 shareholders must hold 3% of Apple's stock in order to nominate a director for one of the eight director positions.

"I don't think it helps the company and probably doesn't help long shareholders either". Spotify, the music streaming pioneer that Apple is trying to upstage, has more than 70 million subscribers. The company said last month it expects to pay roughly $38 billion in repatriation tax payments to bring that cash back to the U.S. But seeing as Apple's success has grown substantially over the past fifteen years, so has the interest that they've received.

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The shareholder meeting is a part of Apple's annual corporate schedule. As a reference point, Cook this past May said that revenue from Apple wearables was comparable to a Fortune 500 company.

"This was so bad for America", he said.

Opining on money and death and the iPhone X's 99 per cent customer satisfaction rate, Cook seems to aspire to see Apple's service play a hand in the dollar bill's demise, and indeed all forms of cash and coin, before departing to that great, big, evergreen oak-lined spaceship campus in the sky.

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