Apple CEO to Forgo Dividend

Cook to pass up about $75 mln in payments on stock awards he’s due over next decade.

Apple Inc. said Chief Executive Officer Tim Cook will forgo about $75 million in dividend payments he would otherwise receive for the 1.125 million stock awards he’s slated to receive over the next decade.

Apple made the announcement in a regulatory filing that also says other employees will be eligible to collect the $2.65-a-share quarterly dividend on restricted stock, the same payout that was announced in March for shareholders of the Cupertino, California-based company.

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