Concurrent with the second quarter of fiscal 2023 results published in early May, Apple declared a new quarterly payout of $0.24 per share. This dividend raise shook out to a 4% improvement on its $0.23 per share predecessor.

Eric Volkman for The Motley Fool:

All things being equal, [top dividend] stocks produce regular dividend income that yields at, or above, the average of a representative group of dividend payers. These days, the average yield of the S&P 500 index sits at just under 1.7%. It also helps greatly if the company enacts a dividend raise at least once every year.

The companies most readily identified with dividend stocks also tend to be well-established ones with modest growth but very strong and reliable free cash flow (FCF).

So does Apple fit this bill? Well, not entirely. That FCF sure is mighty… As for yield, that’s a different story. Strictly on that basis, Apple isn’t very impressive. Its yield is a rather light 0.6% these days, well under the aforementioned S&P 500 benchmark…

I’m an Apple stock owner myself, and for me, it’s never been about the dividend — and likely never will be. Instead, I’m excited about the numerous growth opportunities the tech giant has in front of it, and the payout is just a little sweetener in my eyes. I suggest you look at the stock the same way.

MacDailyNews Take: Apple is a growth stock. You own it for growth (and the current support of huge buybacks), not the dividend.

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