Published , by Sam Chandler
Published , by Sam Chandler
Apple is one of the largest tech companies in the world, so whenever its quarterly earnings roll around, people pay attention. This quarter, Apple reports an increase to its dividend payments and will be buying back $110 billion of its own shares.
Apple released its Q2 2024 earnings report on May 2, 2024, which gave investors an insight into how the company has performed over its second quarter. Alongside the earnings report, Apple announced it was increasing its dividend and will be performing a share buyback.
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 percent. The dividend is payable on May 16, 2024 to shareholders of record as of the close of business on May 13, 2024. The board of directors has also authorized an additional program to repurchase up to $110 billion of the Company’s common stock.
The stock buyback looks to be a continuation of the company’s FY 2023, where it bought back $77.55 billion of common stock.
This quarter saw other positive movements for the company. Apple’s earnings results beat EPS and revenue expectations despite iPhone sales falling some ten percent from the prior year. Be sure to check out our AAPL page for more information on how Apple has performed this quarter.