2023 marks eleventh consecutive year of Apple increasing its dividend to shareholders. Though AAPL’s dividend yield is low, its dividend payment will likely continue to grow annually for the foreseeable future.

Daniel Sparks for The Motley Fool:

While Apple’s financial performance for the period was impressive (particularly considering the macroeconomic headwinds the company is facing) there’s another facet of the update worth exploring: Yet another dividend increase from the tech giant. The dividend hike meant Apple added to its growing streak of increasing its dividend every year.

Apple will increase its quarterly dividend by 4%, management revealed in its earnings report on May 4. This new quarterly dividend comes out to $0.24, which equals $0.96 of dividends on an annual basis. This payout gives Apple a dividend yield of about 0.6%.

Though this is a small dividend, investors should note that the tech giant makes up for its small payout with prospects for continued dividend growth for years to come. Indeed, Apple has already demonstrated its ability to increase its dividend by raising it each and every year since its dividend was initiated in 2012.

MacDailyNews Note: Apple will pay this dividend on May 18th to shareholders of record as of the close of business on May 15th.

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