Greenlight’s Einhorn applauds Apple's capital return moves

According to thestreet, after waging and then withdrawing a battle with Apple to pay out a perpetual preferred stock dividend, David Einhorn of hedge fund Greenlight Capital is applauding the iPhone maker's decision to finance a 15% increase to the company's quarterly payout.

"We applaud Apple's decision to borrow money and return excess capital to shareholders, an idea that was off the table only months ago," a Greenlight Capital spokesperson said on behalf of the fund.

"This positive development represents a more shareholder friendly capital allocation policy and demonstrates the conviction of Apple's management and board in the Company's future."

Read all about it at http://www.thestreet.com/story/11903692/1/david-einhorn-of-greenlight-applauds-apple-dividend-boost.html