Today Apple will make a $2.5 billion dividend payment to shareholders, but this Valentine's Day payment comes alongside news that Apple has been hit with another investor lawsuit. This time the lawsuit comes from a Pennsylvania man who isn't happy about the way that the company decides what it will pay its executives, and claims that Apple will eliminate preferred stock.
Brian Gralnick, who's been a shareholder since 2007, is attempting to stop Apple from holding a shareholder vote on the two matters.
Gralnick accuses Apple of failing to disclose details of how it determined top executives' pay, according to Reuters report.
Apple's shareholders meeting will take place on 27 February.
Apple CEO Tim Cook recently referred to David Einhorn of Greenlight Capital's case as a "silly sideshow".
The Greenlight case will be heard on 19 February and Gralnick says he intends to show up in court.
Einhorn is suing Apple in order to block a proposal that is due to be voted on in at the shareholder meeting. Einhorn says that if shareholders vote for Proposal 2 Apple will be never be able to issue preferred stock, a scheme he is pitching for Apple to adopt.
Apple issued a statement in response saying that the Proposal will only stop the blocking of such moves without shareholder agreement.
This is all part of Einhorn's scheme to get more return to investors, he believes Apple should return more of their $137 billion in the bank to investors in the form of preferred stock that will pay a 4% dividend to those who own it.
In other news, Apple will today make a $2.5 billion dividend payment to shareholders. That's at $2.65 (£1.71) per share. Piper Jaffray analyst Gene Munster believes Apple may announce an increase to the dividend program when the company reports its earnings for the March quarter, reports Marketwatch.