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Apple's Tim Cook turns down $75 million in dividends
Old 05-25-2012, 03:03 PM   #1
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Apple's Tim Cook turns down $75 million in dividends

Put me in the impressed column.

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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 hes likely to win accolades. Cook is forgoing $75 million in dividends to which hes 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. Its 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.
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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Old 05-25-2012, 03:07 PM   #2
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Originally Posted by clifp View Post
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.
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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Old 05-25-2012, 03:28 PM   #3
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Old 05-25-2012, 03:49 PM   #4
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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.
+1

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At his level, it's not about the money...
For some. Mark Z should look at this and learn...
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Old 05-25-2012, 04:25 PM   #5
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For some. Mark Z should look at this and learn...
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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Old 05-25-2012, 04:35 PM   #6
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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.
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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