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Apple Continued to Improve Shareholder Value in Fiscal 1Q18

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Dec. 4 2020, Updated 10:52 a.m. ET

Apple returned $14.5 billion to shareholders in fiscal 1Q18

As you can see in the table below, as of the end of fiscal 1Q18, Apple (AAPL) has completed $248.4 billion of its $300 billion ongoing capital return program. It stated earlier that it intends to pay shareholders $300 billion by the end of March 2019, including $90 billion in dividends and $210 billion in share repurchases.

In fiscal 1Q18, Apple paid shareholders $4.3 billion in dividends and $10.1 billion in share repurchases for a total of $14.5 billion. It returned $42.8 billion to shareholders in fiscal 2016 and $47.7 billion in fiscal 2017. It returned $34.6 billion to shareholders in fiscal 2013, $57.3 billion in fiscal 2014, and $49.1 billion in fiscal 2015.

Apple’s chief financial officer Luca Maestri stated, “We’ve now completed over $248 billion of our $300 billion capital return program, including $176 billion in share repurchases against our announced $210 billion buyback program with $34 billion remaining under our current authorization.”

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Dividend yield

Apple declared a dividend of $0.63 per share, indicating a dividend yield of 1.6% ($2.52 per year). Apple’s dividend payout ratio stands at 22.3%, and its dividend yield has grown in the last five consecutive years. Its dividend has grown at a CAGR (compound annual growth rate) of 10.1% over the last three years.

The dividend yields for peer companies HP (HPQ), Microsoft (MSFT), and Western Digital (WDC) were 2.5%, 1.8%, and 2.4%, respectively, in their last reported quarters.

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