DIVIDEND+SHARE BUYBACK! DOUBLE DELIGHT FROM WORLD'S 2ND LARGEST MARKET CAP FIRM

Apple Dividend, Share Buyback 2024: World’s second largest company by market cap – Apple Inc – on Friday declared the financial results for its fiscal 2024 second quarter ended March 30, 2024. The Company posted quarterly revenue of $90.8 billion, down 4 per cent year over year.

During the March 2024 quarter, the iPhone maker reported a net income of $23.6 billion while witnessed a decline in iPhone revenue to $45.96 billion versus an estimated of $45.76 billion. In addition to this, the company announced a double delight for its shareholders.

Apple Dividend 2024

Declaring its financial results, the world’s second largest company has raised its quarterly dividend for the twelfth year in a row. Apple’s board of directors has declared a cash dividend of $0.25 per share of the company’s common stock, an increase of 4 per cent. The said amount will be paid on May 16, 2024 to shareholders of record as of the close of business on May 13, 2024.

ALSO READ: India's costliest stock rolls out best ever dividend

Apple Share Buyback 2024

In addition to the dividend payout, Apple’s board of directors has also authorised an additional program to repurchase up to $110 billion of the Company’s common stock. The buyback is the largest in the company's history, according to Investing.com analyst Thomas Monteiro, news agency Reuters reported.

Notably, Apple's latest stock repurchase size marks an increase of 22 per cent over last year’s $90 billion program.

“Given our confidence in Apple’s future and the value we see in our stock, our Board has authorised an additional $110 billion for share repurchases. We are also raising our quarterly dividend for the twelfth year in a row,” CEO Tim Cook said in a statement.

Meanwhile, shares of the company settled at $173.03 apiece on NASDAQ on Friday. Apple stock has a 52-week high of $199.62 while a low of $164.08.

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2024-05-03T08:29:06Z dg43tfdfdgfd