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Home / Business / Apple announces 4 to 1 split shares as shares surpass $ 400 after Q3 record earnings

Apple announces 4 to 1 split shares as shares surpass $ 400 after Q3 record earnings



Apple’s Q3 profits just came in and despite the COVID-19 pandemic, the company saw a June record with $ 59.7 billion in revenue. The company shares are over $ 400 per share in the news and a 4 to 1 share split has also been announced.

Apple had an extraordinary quarter with 11% YoY growth during the global health crisis. For the big news, AAPL shares have risen almost 5% in after-hours trading, pushing them above $ 400.

Outstanding performance means that Apple’s market cap is approaching that $ 2 trillion mark with the current estimate approaching $ 1.7 trillion. In quarterly revenue of $ 59.7 billion, Apple had $ 11.25 billion in profit.

More big news for investors includes Apple̵

7;s board of directors approving a 4-to-1 share split Apple announced details of the split to take place in late August in a Newsroom post today covering its Q3 earnings .

The Board of Directors has also approved a four-to-one stock split to make the shares more accessible to a wider investor base. Each shareholder in Apple close to the business on August 24, 2020 will receive three additional shares for each share held on the record date, and trading will begin on a regulated basis on August 31, 2020.

Prior to the stock split, a cash dividend of $ 0.82 per share will be paid on August 13 based on the market closing on August 10.

Apple Board of Directors has declared a cash dividend of $ 0.82 per share of the company. The dividend will be paid on August 13, 2020 to record shareholders, by closing the 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 shares saw a 2-1 split.

Check out our full coverage of Apple Q3 scores here that include huge 21% and 31% growth for Mac and iPad respectively. And stay tuned to 9to5Mac for direct coverage of Apple’s Q3 revenue call.

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