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.
Not too shabby considering the virus pandemic putting a halt to much of Apple’s production and hardware sales. Apple’s recovery was much better than I thought it would be. The dividend could certainly be a bit higher, but it’s better than no dividend increase at all. There were companies who halted dividends along with share price drops and that certainly stinks for shareholders. Who knows? Apple may one day be the king of market cap although Microsoft shows no signs of slowing down.
This is NOT “THE” recovery. You have to ask yourself, why in the world would the stock be approaching (merely) $10 down from ALL TIME HIGHS when the US economy is approaching, or touching Depression level lows on a number of metrics? Remember, Cook couldn’t/wouldn’t give Q3 estimates. Seriously, answer the “WHY.”
You are not connecting the dots…you seem to usually make (warm and fuzzy) conclusions based on info at the tip of your nose.
Where’s Rod Hall hiding?
It’s times like now when the value of Apple becomes obvious to investors with common sense. Yes, Apple’s earnings and profit will no doubt suffer for the near term. But true stock investing is about the longer term potential. And Apple has the “cash” to survive easily, while doing MORE stock buybacks AND not just paying but raising dividends. Plus, there are key opportunities to strategically acquire struggling companies on the cheap. Apple will emerge from the current global crisis more dominant than ever. AAPL well above $300 again reflects this understanding.