Shares of Apple Inc. (AAPL) rose 1.1% in midday trading Monday toward the highest close in nearly three months, with investors who own the shares through the close set to receive a dividend payment. The technology behemoth said on April 30 that it will pay a quarterly dividend of 82 cents a share on May 14 to shareholders of record at the close of business on May 11. 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%.
-Tomi Kilgore; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
May 11, 2020 12:36 ET (16:36 GMT)
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