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Apple's Tim Cook turns down $75 million in dividends
05-25-2012, 02:03 PM
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#1
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Apple's Tim Cook turns down $75 million in dividends
Put me in the impressed column.
 Quote:
Apple CEO Tim Cook is proving himself as much a master of employee and investor relations as he is of operational efficiency. His decisions to create a charitable matching program for Apple employees and to grant a long-pined-for dividend to company shareholders have won him a lot of favor among both groups, while putting his own stamp on Apple. And now Cook has made another move for which he’s likely to win accolades. Cook is forgoing $75 million in dividends to which he’s entitled.
In a Thursday SEC filing, Apple announced plans to award a $2.65-a-share quarterly dividend on restricted stock units held by its employees. It’s a nice — and unusual — perk to offer (and one certain to cement employee loyalty in a very competitive talent arena), but Cook is passing it up.
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Now Jobs probably wouldn't have given a dividend in the first place but no way would have turned down the dividend.
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05-25-2012, 02:07 PM
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#2
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Quote:
Originally Posted by clifp
Put me in the impressed column.
Now Jobs probably wouldn't have given a dividend in the first place but no way would have turned down the dividend.
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Nice to see an exec do the right thing. I imagine Cook would've taken a lot of heat from the rank & file (to say nothing of the media) if he'd taken the dividend.
At his level, it's not about the money...
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05-25-2012, 02:28 PM
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#3
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05-25-2012, 02:49 PM
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#4
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Quote:
Originally Posted by Nords
Nice to see an exec do the right thing. I imagine Cook would've taken a lot of heat from the rank & file (to say nothing of the media) if he'd taken the dividend.
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+1
Quote:
Originally Posted by Nords
At his level, it's not about the money...
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For some. Mark Z should look at this and learn...
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05-25-2012, 03:25 PM
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#5
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Quote:
Originally Posted by MichaelB
For some. Mark Z should look at this and learn...
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He has a lot more to learn about than just money. And I don't think it's about the money for him, either.
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05-25-2012, 03:35 PM
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#6
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Quote:
Originally Posted by Nords
He has a lot more to learn about than just money. And I don't think it's about the money for him, either.
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It isn't but it is. He didn't turn down 120M almost free stock options even though he is founder and still owns 1/4 of the company.
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