Piper: Quarterly dividend expected to expand Apple’s shareholder base

“With a higher-than-expected 1.8 percent yield, Apple’s new $2.65 quarterly dividend is expected to expand its shareholder base to investors who previously passed on the stock because it did not pay out a dividend,” Neil Hughes reports for AppleInsider.
“Analyst Gene Munster with Piper Jaffray noted on Monday that Apple’s quarterly dividend represents an annual yield of about 1.8 percent, which is slightly higher than other big cap tech companies,” Hughes reports. “He believes most on Wall Street were expecting Apple to offer a dividend with an annual yield closer to 1.5 percent.

“‘While the dividend has been widely expected, we believe that the dividend will make AAPL viable to a broader base of shareholders,’ Munster wrote in a note to investors on Monday,” Hughes reports.

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