SAN FRANCISCO — Since Apple said in January that it would bring back most of the $252 billion it held abroad under the new tax law, investors have wondered what the company would do with the enormous cash pile. On Tuesday, those investors learned that they are in line for a big chunk of the money.

Apple said it would buy back an additional $100 billion in stock, by far the largest increase in its already historic record of returning capital to investors. The company didn’t provide a timeline for the repurchases. Apple also increased its dividend by 16 percent to 73 cents a share, pushing past Exxon Mobil to become the largest dividend payer, according to S&P Dow Jones Indices.

Apple’s stock buyback fits into a broader trend of companies using the financial windfall from President Trump’s tax cut to reward shareholders. Share buybacks, which are reaching record levels, are great for investors, including executives and employees, because they reliably lift stock prices by limiting the supply of shares for sale.

But critics say the actions can take money away from potential investments in hiring or research and development, and can increase economic inequality because they typically benefit wealthier people.