Jobs on Successors, Buy Back Shares, Dividends

Today Apple held its annual shareholder meeting at its Cupertino campus.

During the meeting CEO Steve Jobs field questions on buy back shares, dividends and a successor to his position.

Since the beginning of 2008 Apple’s share price has plummeted 37 percent but Jobs said that the company has no plans to buy back shares or introduce a dividend.

“At this time, we have no plans to do either,” said Jobs.

The company CEO also reiterated Apple’s plan to sell 10 million iPhones during 2008 also repeating that the iPhone will find its way to Asia later this year.

Chief Operating Officer Tim Cook declined to comment when asked what date the iPhone would go on sale in China and India except to say that it will be in those Countries “one day.”

Jobs also spoke about successors to his CEO position; “We’ve got great talent, and I think the board would have a few really good choices.”

“We talk about that a lot.” Candidates include Cook and Chief Financial Officer Peter Oppenheimer, he said.

Shareholders also re-elected the entire board of directors.

When questioned about a pay proposal that was approved Jobs jokingly said “I’m hoping the say on pay proposal will help with my $1 a year,”