Apple Inc. Chief Executive Tim Cook said Tuesday at the company’s annual shareholder meeting that a special dividend is unlikely as Apple looks to spend $285 billion stashed overseas, according to a report. “Special dividends, I’m not really a fan of,” Cook said in response to a question, Reuters reported Tuesday. “But in terms of annual increases in the dividend, it is something that this board and management are committed to doing.” Apple stock is up less than 1% to $163.89 in afternoon trading. Cook said executives would update shareholders on the company’s capital return program on its April earnings call. Apple stock has gained 23% in the past 12 months, as the S&P 500 index rose 14%. The Dow Jones Industrial Average , of which Apple is a component, has gained 21% in the past year.
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