Apple meeting: CEO Cook downplays repatriation dividend

Appleā€™s wearable business is thriving

Apple meeting: CEO Cook downplays repatriation dividend

At the iPhone maker's annual shareholder meeting in Cupertino, California, Mr Cook responded to a question on whether the company might double its dividend after recent changes to USA tax laws allowing corporations to bring back overseas cash at lower tax rates. While Apple Pay has an "extraordinary future ahead of it", the acceptance of mobile payments has taken off slower than he expected, Cook said. He says every Apple board meeting in the past years has had succession planning on the agenda.

Apple boss Tim Cook has said that he hopes to see the elimination of cash within his lifetime.

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Apple also added a new feature with a recent iOS update that lets iPhone users send cash to each other via iMessage.

Apple has been coy on giving exact numbers about adoption of Apple Pay, though the service has regularly gained new features since it was launched in 2014.

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"After they've paid their taxes and repatriation, Apple will have somewhere around $230 billion in cash". While Apple gives no official sales figures, the product thought to be leading the wearables boom is the Apple Watch. Most recently, and thanks to the Apple Watch Series 3, cumulative Apple Watch sales have exploded in recent months.

Cook also confirmed that Apple had a fair number of acquisitions in 2017, something the company is traditional loath to announce.

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Asked about diversity, Cook said half of Apple's hires a year ago were either female or underrepresented minorities. It's now looking for more, Cook revealed, though didn't go into any detail as to what gaps in Apple's talents it might be looking to fill in the process.

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