Consumer technology company Apple (AAPL, Financials) announced a quarterly dividend of 27 cents per share, the same as the previous quarter. The dividend is payable Aug. 13 to stockholders of record Aug. 10. The shares also will go ex-dividend Aug. 10.
At the current share price, this payout implies a forward dividend yield of around 0.32%. That's small by the standards of many income stocks, which reflects Apple's concentration on share buybacks and investment in the firm, combined with its dividend program.
The constant payout shows the corporation is taking a conservative approach to capital returns rather than making a bigger shift to its dividend policy. Apple has generally paired steady dividend growth with large stock buybacks.
To long-term shareholders, the dividend provides a small, periodic return, but changes in the share price will still have a far higher impact on total performance.
Apple's future moves on returning capital, including any dividend rise or modifications to its share repurchase program, will be closely watched by investors today.