It's a good day to be an Apple shareholder. Starting August 16, the Cupertino company will issue its first dividends in 17 years, with quarterly dividends of $2.65 per share, according to AppleInsider.
Apple's dividend and stock repurchase plan will help the company give back their investors some of the cash that has been growing so much. Apple is expected to disburse nearly $2.5 billion in payments to investors each quarter at least through fiscal year 2015.
Apple is cash rich. And last quarter, they added $7 billion in cash, accumulating to an amount of $117 billion that they have in hand.
Dividends will go out to stockholders of record as of Aug. 13. In May, Apple CEO Tim Cook announced that he would not receive dividends.