I have included Greenlight Capital iPrefs presentation. David Einhorn’s hedge fund is a major sharedholder of Apple and has been advocating for different ways to return some of Apple’s $145 billion+ cash to the owners. He has proposed a new class of preferred shares named “iPrefs”, that would pay a fatter yield than the common shares. Tim Cook, the CEO of Apple, has called the proposal a “silly sideshow”. Yesterday Apple reported their 2nd quarter earning numbers and announced that they will boost dividend payout and increase share buyback. At least David is getting paid.
Presentation link below:
iPref Presentation by Greenlight Capital
Photo Credits: Forbes