Apple returned $29 billion to shareholders in the March quarter and its board authorized up to $100 billion more in share repurchases. For the fiscal second quarter the company reported $95.4 billion in revenue, $24 billion in operating cash flow and diluted earnings per share of $1.65. The board also raised the quarterly cash dividend 4% to $0.26 per share, payable May 15, 2025.
Quarterly cash, profits and the new authorization
Key figures for Apple’s fiscal second quarter:
- Revenue: $95.4 billion, up 5% year over year
- Diluted EPS: $1.65, up 8% year over year
- Operating cash flow: $24 billion
- Cash returned to shareholders this quarter: $29 billion
- Board authorization: up to $100 billion in additional share repurchases
Those results supported the company’s decision to return $29 billion to shareholders during the period and to seek board approval for the additional $100 billion repurchase authorization. CEO Tim Cook highlighted services growth and a refreshed product lineup, noting the iPhone 16e and new Macs and iPads built around Apple silicon.
Dividend hike and timing
The board raised the quarterly cash dividend by 4% to $0.26 per share. The dividend is payable on May 15, 2025, to shareholders of record at the close of business on May 12, 2025. The company positioned this as steady, modest dividend growth rather than a special one‑time payment.
The newly authorized repurchase program is an additional instrument beyond the cash returned this quarter. Apple did not specify an execution timetable or how it will allocate capital between repurchases and other uses.
How Apple is returning cash
Apple delivered shareholder value this quarter through a higher quarterly dividend and active share repurchases and by obtaining a fresh buyback authorization. Completed repurchases reduce outstanding shares, which can lift per‑share metrics like EPS even if total net income is unchanged.
Apple cited a record installed base of active devices and double‑digit services growth as drivers of the operating cash that funds these returns.
Where this sits among large tech firms
Returning cash through dividends and buybacks is common among large technology firms. Some companies prioritize reinvestment in R&D and capital spending; others increase shareholder returns when free cash accumulates. Apple’s package — tens of billions returned this quarter plus a $100 billion authorization — emphasizes capital return backed by the quarter’s cash flow.
Why the company can make the move
Management pointed to $24 billion in operating cash flow for the quarter as the explicit source for the $29 billion returned to shareholders during the period. The combination of hardware revenue and paid services helps generate the operating cash that management can return to owners while continuing product investment.
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The board set a $0.26 per-share dividend payable May 15, 2025, to shareholders of record on May 12, 2025, and authorized up to $100 billion in additional share repurchases — though it gave no timetable for executing the buybacks.
This article was created with AI assistance.
