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Apple CEO Sees Dividend Hikes, Calls Succession a Priority

  • Mobile payments have grown slower than expected, Cook says
  • Cook makes comments at Apple annual shareholder meeting
Bloomberg business news
What to Watch for at Apple's Shareholder Meeting
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Apple Inc. Chief Executive Officer Tim Cook told shareholders at the company’s annual meeting to expect higher dividends and stressed that succession planning is a priority.

Cook was asked if shareholders would receive a special dividend this year as part of Apple bringing hundreds of billions of dollars in cash back to the U.S. The CEO said he’s "not a fan" of special dividends but said the company’s board remains "committed" to annual dividend increases. Directors will discuss the issue in April, as in previous years, he noted at the meeting inside the company’s new Steve Jobs Theater, in Cupertino, California.