News Summary: Google to keep stockpiling cash
Published: February 28, 2013
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BULGLING WALLET: Google's chief financial officer says the Internet search leader wants to keep stockpiling cash in case it sees an appealing acquisition opportunity or other promising investment. Patrick Pichette's comments at a Thursday technology conference made it clear that Google shareholders shouldn't be expecting a dividend in the near future.
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BREAKING IT DOWN: Google has $48 billion in cash, including $31.4 billion outside the U.S.
HOT TOPIC: Companies' money-management policies are coming under scrutiny as more firms hoard cash instead of rewarding their shareholders with dividends. Apple Inc. is under great pressure to do something because its bank account now holds a whopping $137 billion.
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