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Apple to decide on its $98 billion cash holdings

posted 19 Mar 2012, 06:25 by Mpelembe   [ updated 19 Mar 2012, 06:27 ]

Apple to discuss plans for $98 billion cash holdings during Monday conference call.

CUPERTINO, CALIFORNIA UNTIED STATES (REUTERS) - Apple Inc, the world's most valuable company, will discuss on Monday (March 19) what it plans to do with its $98 billion cash hoard, raising expectations it may meet demands to pay a dividend for the first time since 1995.

Apple issued a short press advisory saying it would hold a conference call on Monday to discuss the outcome of discussions about its cash balances.

The maker of the iPhone, iPad and iPod has $98 billion in cash and securities, equal to about $104 a share. Mounting anticipation over a buyback, along with hopes that the newest iPad will keep sales momentum strong, helped propel the stock to a record high this month above $600 a share. At Friday's closing price of $585.57, Apple has a market value of about $546 billion.

The Apple call, to be held at 9 a.m. EDT (1300 GMT) on Monday, will not provide an update on the current quarter nor will it touch upon any topics other than cash, the company said in a statement on Sunday. Apple declined to comment further.