Feeds

Tim Cook spurns $75m Apple divvy

Can't be bothered carrying small change

Remote control for virtualized desktops

At a time when Facebook CEO Mark Zuckerberg is coming under flak for his personal gains from Facebook shares, Tim Cook has turned down a $75 million dividend on his Apple shares.

It's the first time since Steve Jobs took over in 1997 that Apple are issuing shareholder dividends. And Cook has offered to forgo the dividends due to him which means that the CEO is passing over a cool $75 million.

In a filing to the SEC financial authority in New York last night, the Senior Vice President of Apple D Bruce Sewell wrote that the Board had approved all dividend pay-outs, except for Cook's:

At Mr. Cook's request, none of his restricted stock units will participate in dividend equivalents. Assuming a quarterly dividend of $2.65 per share over the vesting periods of his 1.125 million outstanding restricted stock units, Mr. Cook will forego approximately $75 million in dividend equivalent value.

Lawks. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
BIG FAT Lies: Porky Pies about obesity
What really shortens lives? Reading this sort of crap in the papers
Assange™ slumps back on Ecuador's sofa after detention appeal binned
Swedish court rules there's 'great risk' WikiLeaker will dodge prosecution
You think the CLOUD's insecure? It's BETTER than UK.GOV's DATA CENTRES
We don't even know where some of them ARE – Maude
prev story

Whitepapers

Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
Go beyond APM with real-time IT operations analytics
How IT operations teams can harness the wealth of wire data already flowing through their environment for real-time operational intelligence.
How to determine if cloud backup is right for your servers
Two key factors, technical feasibility and TCO economics, that backup and IT operations managers should consider when assessing cloud backup.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?