Apple announces 4-for-1 stock split as share price hits $400
Apple has announced its Q3 2020 financial earnings results, reporting quarterly revenue of $59.7 billion, an increase of 11 percent from the year-ago quarter amid the global COVID-19 pandemic.
In after-hours trading, AAPL shares hit $400, with Apple’s Board of Directors approving a four-for-one stock split to make the stock more accessible to a broader base of investors. Each Apple shareholder of record at the close of business on August 24, 2020 will receive three additional shares for every share held on the record date, and trading will begin on a split-adjusted basis on August 31, 2020.
The board declared a cash dividend of $0.82 per share of the Company’s common stock. The dividend is payable on August 13, 2020 to shareholders of record as of the close of business on August 10, 2020.
The four-for-one stock split is the first time Apple has offered such a split since 2014, when the company announced a 7-1 split.
— The Apple Post (@TheApplePost) July 30, 2020