Apple has been busy managing its growing stockpile of cash, particularly earnings held in the company's overseas subsidiaries. In the second quarter, Apple returned a record $18.8 billion in cash to investors and it is in the process of a goal to distribute $100 billion in cash by the end of 2015. Apple's annual dividend payments are now expected to exceed $11 billion.
Some investors, particularly Carl Icahn of Icahn Enterprises and David Einhorn of Greenlight Capital have asked that Apple distribute even more cash to shareholders, although they advocate the firm take on incremental debt instead of repatriating foreign funds to fund those payouts.
Apple shares were gaining less than 1% in early Tuesday afternoon trading at $499.23.
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-- Written by Antoine Gara in New York.
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