Apple has announced an increase in its quarterly dividend, which has been raised from 0.23 to 0.24 US dollars per share, marking an increase of 4%. This is the eleventh consecutive year that the Mac and iPhone manufacturer has increased its dividend. However, despite the increase, the dividend yield remains low at around 0.6%.
The increased dividend will be applied to the next payout, which is scheduled for May 18. Shareholders who own Apple common stock at the end of the business day on May 11 will be eligible to receive the dividend (with the ex-dividend date being May 12). Based on 16.3 billion outstanding Apple shares, the payout will be approximately 3.8 billion US dollars.
In addition to the dividend increase, Apple has boosted its ongoing share repurchase program by 90 billion US dollars, which is likely to support the company’s stock price. Apple ended the last quarter with reserves of 166 billion US dollars, while its debts amounted to 110 billion US dollars, which are being gradually reduced.
With this announcement, Apple is showing its commitment to returning capital to shareholders while maintaining its strong financial position. The boost in the share repurchase program demonstrates the company’s confidence in its long-term growth prospects, which should provide investors with a sense of security and stability.