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Apple expected to boost its dividend and stock buybacks once again

Monday April 3, 2023. 08:07 PM , from Mac Daily News
When Apple reports earnings late this month, the company is widely expected to increase its dividend and boost stock buybacks once again.

Eric J. Savitz for Barron’s:

Over each of the last 10 years, in fact, Apple has used the announcement of March-quarter earnings to provide the market with an update on its capital-return policy.
Apple has been aggressively returning cash to holders for years now, mostly in the form of stock repurchases, but also with gradually increasing dividends.
Apple currently pays a quarterly dividend of 23 cents a share, for a yield of 0.6%. The company raised the rate last year by a penny, or a little under 5%. The year before that, the increase was 7%. It would seem logical to think Apple will raise the rate this year once again by a penny, which would be 4%, to 24 cents quarterly—although a 2-cent increase, or a little under 9%—would bring the annualized rate to a nice round dollar.
Last year, Apple’s board approved a $90 billion buyback authorization, matching the one from the year before. Over the last five years combined, the company has announced $405 billion in stock buybacks. Since the end of fiscal 2017, the company on a split-adjusted basis has repurchased 4.7 billion shares, reducing share count by 23%.

MacDailyNews Take: Apple’s best use for its copious amounts of excess cash is to return it to its shareholders via buybacks and dividends.
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The post Apple expected to boost its dividend and stock buybacks once again appeared first on MacDailyNews.
https://macdailynews.com/2023/04/03/apple-expected-to-boost-its-dividend-and-stock-buybacks-once-aga
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