Apple’s stock price has gone up by as much as 37 percent since January with many analysts expecting a dividend to be paid especially since the death of CEO Steve Jobs. The Cupertino, CA company has announced a quarterly dividend of $2.65 a share that will take effect from July 1 of this year or the company’s fiscal fourth quarter.
News of this has sent the stock price to almost $600 which it went over for a while as well before dropping back to $592 today. The good thing for the tech giant is that it will be able to attract more investors after deciding to issue dividends. A wider range of funds will want to add Apple stock to their portfolios. For instance, “value-oriented” funds have a policy of buying stocks that pay dividends.