Apple has said in an SEC filing that Tim Cook has asked to be excluded from a company programme allowing employees to build up dividends on their stock while it is still vesting. For Cook, this would amount to around $75m over the next few years.
The company has not commented on why he is turning down the money, but rumour has it he does not want to receive dividends on shares which were issued to him during Steve Jobs’ final year, when Cook was often required to stand in.
Apple is enjoying a healthy market position despite fierce competition from the likes of Samsung and Nokia, who are aggressively seizing chunks of the Smartphone market. Cook’s company is sitting pretty in comparison though, and is currently one of the most valuable companies in the world with a market capitalisation of $528.6bn. Jobs a good ‘un.