Apple's Tim Cook turns down $75 million in dividends

[clifp]

Put me in the impressed column.

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.

Now Jobs probably wouldn't have given a dividend in the first place but no way would have turned down the dividend.

 

[Nords]

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...

 

[Midpack]

One-dollar salary - Wikipedia, the free encyclopedia

 

[MichaelB]

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

At his level, it's not about the money...

For some. Mark Z should look at this and learn...

 

[Nords]

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.

 

[MichaelB]

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.