Apple's Stock Closes at All-Time High as Company Pays Out Cash Dividend
Apple's stock closed at an all-time high today, the same day the company paid out its first cash dividend since December 1995, notes MacRumors.
Apple's stock price closed at an all-time high of $636.34 today, passing the prior all-time closing high of $636.23 set four months ago on April 9th. The next day, April 10th, the stock hit an intraday high of $644 and the company's market capitalization breached $600 billion before falling back. Apple's stock price is up nearly 60% on the year, outperforming the NASDAQ by more than 3:1 and the Dow Jones Industrial Average by more than 6:1.
Apple's Board of Directors previously declared a cash dividend of $2.65 per share of the Company's common stock. The dividend was payable today, to stockholders of record as of the close of business on August 13, 2012.
The rise in Apple's stock is also attributed to rumors of a new iPhone, iPad mini, and other devices thought to be unveiled next month.