Apple’s Q3 earnings have just come in and despite the COVID-19 pandemic, the company saw a record June quarter with revenue of $ 59.7 billion. The company’s stock is rising by more than $ 400 a share on the news and it has also announced a 4 to 1 share split.
Apple had an incredible quarter with 11% YoY growth during the global health crisis. On the big news, AAPL shares rose nearly 5% in trading hours, pushing them above $ 400.
The remarkable performance means that Apple’s market cap is approaching closer to that $ 2 trillion mark with the current valuation approaching $ 1.7 trillion. On quarterly revenue of $ 59.7 billion, Apple saw a profit of $ 11.25 billion.
Bigger news for investors includes Apple’s board of directors approving a 4 to 1 share split. Apple announced details of the split that will take place in late August at a Newsroom location today covering its Q3 earnings.
The Board of Directors also approved a split of four stocks into one to make the stock more accessible to a wider investor base. Each Apple record shareholder at the close of business on August 24, 2020 will receive three additional shares for each share held on the record date, and trading will begin on an adjusted basis on August 31, 2020. ‘August 2020.
Before the stock is split, a cash dividend of $ 0.82 per share will be paid on August 13 based on the market close on August 10.
Apple’s Board of Directors declared a cash dividend of $ 0.82 per share of the Company’s common stock. The dividend shall be paid on August 13, 2020 to the registration shareholders from the close of business on August 10, 2020.
The last time AAPL shares saw a split was back in 2014 which was a 7-1 split and before that it was 2005 when the stock saw a 2-1 split.
Check out our full coverage of Apple’s Q3 results here which include 21% and 31% big growth for Mac and iPad, respectively. And stay tuned to 9to5Mac for direct coverage of Apple’s lucrative Q3 phone call.
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