Apple Inc. announced today, they will be paying out dividends to their stock holders for the first time in 17 years. 

Apple CEO Tim Cook announced this morning that Apple will be paying out dividends and buy back $10 billion in stock, returning part of the $97.6 billion in cash amassed by insane demands for iPhones and iPads according to Bloomberg. 

What does this mean for you? If you own stock in Apple, you're gonna get $2.65 per share per quarter. Pretty awesome right? The shares breakdown is actually the largest-ever dividend initiation for a company in the Standard & Poor’s 500 Index. So consider yourself lucky.

The big dividend buy back will cost about $45 billion over the next three years and is aimed to expand Apple's shareholder base. Currently many fund managers stay away from Apple since they don't offer dividends. Cook plans to attack these managers with this new stock offering.