Apple CEO downplays special dividend at shareholder meeting

Apple CEO downplays special dividend at shareholder meeting

Answering a question about when visitors might get a tour of Apple Park, Cook said that, "The reason we created the visitor's center [and] the problem with opening up the main facility for tours is we have so much confidential stuff around and keeping stuff confidential is the bane of my existence now". "But in terms of annual increases in the dividend, it is something that this board and management are committed to doing". Every Apple board meeting in recent years has had succession planning on the agenda for all key executive roles, he said.

Cook dismissed the possibility of a one-time payment known as a special dividend, saying he didn't think that form of distribution "really helps the company or shareholders".

Apple is hoping to gain more ground on Spotify with an internet-connected speaker called the HomePod. Apple reported 50 percent growth year-over-year for the Apple Watch Series 3 in its fiscal 2018 Q1.

Apple itself had recommended that shareholders vote against both the proposals. A further update in December 2017 enabled Apple Pay Cash payments to be made by Apple Watch.

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.

Cook defended Apple when queried by a shareholder who wondered why a company that generated a $48 billion profit in its last fiscal year should benefit from reforms that some have derided as corporate welfare.

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