Apple's cash on hand fell to $267.2 billion in the March 2018 quarter, as new tax changes have freed up spending options for the iPhone giant.
That's $17.9 billion less than the the $285.1 billion it reported at the end of the previous quarter and the lowest total since June. The company reported the updated number alongside its quarterly earnings Tuesday.
Apple has steadily increased its dividend each year since it split its stock in 2014. The company announced a $100 billion buyback program and a 16 percent dividend increase Tuesday.
Apple said Tuesday it has returned $275 billion in total capital to shareholders since 2012.
The company has also said it plans to invest in content, emerging markets and U.S. job creation. Apple announced in January it planned to contribute $350 billion to the U.S. economy over the next 5 years, including $38 billion in taxes, $30 billion in capital expenditures, and a continuation of its $55 billion "supercycle" spending rate with domestic suppliers and manufacturers.
That investment plan was helped by recent tax changes which lowered the tax rate on overseas cash being brought back to the U.S.
WATCH: Apple boosts quarterly dividend
