Apple (AAPL) adds $90 billion to stock buyback program & increases dividend
Apple (AAPL) has stated it intends to buy back another $90 billion in its stock, and plans to increase the quarterly dividend to shareholders.
Apple (AAPL) reported its Q2 2023 earnings results today and included in the report was the company’s intention to add $90 billion to its stock buyback program and to increase dividends for investors.
The dividend increase will be a 4 percent bump from the $0.23 per share that Apple previously paid out to investors quarterly. The new dividend will be $0.24 per share, which will also be paid out quarterly. This is a modest increase but it’s better than nothing. In the first six months of fiscal year 2023, Apple has spent $7.4 billion on dividends, and $39 billion on repurchases of stock.
Apple had this to say about the dividend:
Regarding the $90 billion for share repurchases, Apple CFO Luca Maestri stated, “Given our confidence in Apple’s future and the value we see in our stock, our Board has authorized an additional $90 billion for share repurchases. We are also raising our quarterly dividend for the eleventh year in a row.”
For more on Apple, including its Q2 2023 earnings report, stick right here with Shacknews, and check out the full earnings release. You can also watch the earnings call on the Shacknews Twitch channel, which we’ve embedded in this article for your convenience.
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