Tim Cook declines US$75 million dividend

In a Thursday SEC filing — as reported by “AllThingsD” (http://macte.ch/66OjA), Apple announced plans to award an US $2.65-a-share quarterly dividend on restricted stock units held by its employees. However, CEO Tim Cook is declining it.

From Apple’s 8K:“At Mr. Cook’s request, none of his restricted stock units will participate in dividend equivalents. Assuming a quarterly dividend of $2.65 per share over the vesting periods of his 1.125 million outstanding restricted stock units, Mr. Cook will forego approximately $75 million in dividend equivalent value.”