Posted June 07, 2018 03:05:51Apple’s stock surged by more than 40% last week after the company released a quarterly report showing that it had added $11.5 billion to its $150 billion cash hoard.
The Wall Street Journal reports that the cash injection was the biggest since the company was formed in 2007.
The news comes just one week after Apple reported a revenue decline of $3.1 billion in the quarter.
Apple also said that it would increase its dividend by 20%, but the stock has since lost more than 30% of its value.
The company also said it will be reducing its dividend to a “diluted” level, and it plans to raise its dividend for fiscal 2019 by 5%.
Apple will be raising its dividend every year since the year 2000, but the last time it raised it was in 2009.
It had a dividend of 5.5 cents per share last year, according to The Wall Street News.
Apple has always had a big dividend.
In 2014, the company paid a dividend to shareholders of $8.65 per share.
Apple stock rose in the aftermath of the company’s earnings report, with the company posting earnings that beat Wall Street expectations.
The company reported $5.4 billion in revenue for the third quarter of fiscal 2019.
Apple shares rose 5.9% to $96.23 on Thursday.