Apple stock rose 1.7% in midday trading Monday to $315.32, near 3-month high, with investors who own the shares through the close set to receive a quarterly dividend payment of 82 cents per share on May 14th.
Apple’s all-time intraday high stands at $327.85 and was set on January 29, 2020. Apple’s all-time closing high was set on February 12, 2020 at $327.20.
That dividend is up 6.5% from the 77-cent dividend paid out in February.
Based on the current stock price, the new annual dividend rate implies a dividend yield of 1.05%, which compares with the implied yield for the S&P 500 of 1.97%.
Apple’s stock, which is on track for the highest close since Feb. 20, is now 4.2% below the Feb. 12 record close of $327.20. It has gained 6.8% year to date, while the Dow Jones Industrial Average has lost 15.0%.
MacDailyNews Take: Unsinkable.