Apple will return $200 billion to shareholders

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(REUTERS/Denis Balibouse)

Apple announced it will return a ton of cash to shareholders.

Along with its earnings announcement, the company said that it will increase its capital return program by 50% to $200 billion through March 2017.

The company raised its dividend to $0.52 per share from $0.47 and increased its buyback authorization to $140 billion from $90 billion.

In a statement, Apple CEO Tim Cook said that "most of our program will focus on buying back shares."

The company said it plans to tap debt markets to fund this program.

The iPhone maker reported earnings and revenue that topped expectations, and in after hours trade on Monday, shares of the company were up about 2%.

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