Apple to hold vote on investor payout

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iol scitech oct 2 Apple-Icahn

AP

Investor Carl Icahn announced the end of his campaign to pressure Apple into increasing its share buyback programme.

London - Apple has bowed to pressure from an activist investor in the latest twist in a £90bn payout battle.

Billionaire Carl Icahn has already got an agreement from the tech Goliath to pay out £60bn in dividends and share buybacks in the next two years.

He has also pushed for a vote by shareholders on whether Apple should commit to a further £30bn in payouts in 2014.

Now Apple has agreed to include a vote on Icahn’s demands at February’s annual investor ballot – although it has advised shareholders to vote against the move.

The group has almost £85bn in bank accounts around the world, but has not yet laid out what it plans to do with the money.

Icahn holds a stake in Apple worth £1.6bn, around 0.01pc of the group’s shares, making him one of the largest investors.

He has a history of activism, and has spent much of the past year unsuccessfully trying to take control of the computer maker Dell. - Daily Mail

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