Apple Raises Cash Dividend, Buys Back More Stock

<p><strong>CUPERTINO<&sol;strong> &&num;8212&semi; Apple announced plans to buy back up to &dollar;110 billion in shares of its stock and also boost its dividend&period;<&sol;p>&NewLine;<p>The company last week reported financial results for its fiscal 2024 second quarter ended March 30&comma; 2024&period; In the second quarter&comma; revenue was &dollar;90&period;8 billion&comma; down 4 percent year over year&comma; and quarterly earnings per diluted share of &dollar;1&period;53&period;<&sol;p>&NewLine;<div class&equals;"pagebody-copy">&OpenCurlyDoubleQuote;Thanks to very high levels of customer satisfaction and loyalty&comma; our active installed base of devices has reached a new all-time high across all products and all geographic segments&comma; and our business performance drove a new EPS record for the March quarter&comma;” said Luca Maestri&comma; Apple’s CFO&period; &OpenCurlyDoubleQuote;Given our confidence in Apple’s future and the value we see in our stock&comma; our Board has authorized an additional &dollar;110 billion for share repurchases&period; We are also raising our quarterly dividend for the twelfth year in a row&period;”<&sol;div>&NewLine;<div><&sol;div>&NewLine;<div class&equals;"pagebody-copy">Apple’s board of directors has declared a cash dividend of &dollar;0&period;25 per share of the Company’s common stock&comma; an increase of 4 percent&period; The dividend is payable on May 16&comma; 2024 to shareholders of record as of the close of business on May 13&comma; 2024&period; The board of directors has also authorized an additional program to repurchase up to &dollar;110 billion of the Company’s common stock&period;<&sol;div>&NewLine;