Apple urged to return more shareholder money

Apple, the world’s most valuable technology company, is being urged by David Einhorn’s Greenlight Capital to return more of its $137.1bn (€101.5bn) in cash to shareholders.

Greenlight, an Apple investor, asked fellow holders to vote against a proposal — outlined in the company’s annual proxy statement — that would eliminate preferred stock.

Einhorn said that Apple’s $137.1bn in cash equates to about $145 per share, and that other investors agree with him that the company is hanging onto too much of it. Apple executives said on an earnings’ conference call last month that they’re considering increasing share buybacks and the quarterly dividend. The company reinstated dividends last year and said it would repurchase $10bn in stock over three years.