My Notes from Apple’s 2024 10-K
Hello everyone. Today’s update will conclude our Apple 4Q24 earnings review. We will go over Apple’s 10-K filing for 2024. There are a few remaining comments to go over regarding Apple’s share buyback. We can do that tomorrow.
Published at the end of the fiscal year (Apple's fiscal year ends in September), 10-K filings include a more in-depth examination into Apple’s financials and business versus the 10-Q filings published at the end of 1Q, 2Q, and 3Q. Said another way, 10-Ks are a treasure trove of granular financial data. We will also use this opportunity to recap some of Apple’s financial totals for FY2024 and how they compared to prior years.
My Notes from Apple’s 2024 10-K
Quarterly Cash Dividends. Regarding Apple's quarterly cash dividend (a 0.4% dividend yield given Apple's current stock price), Apple's share repurchases have led to a declining share count which makes it less costly to pay the same amount of cash dividends. Despite the quarterly cash dividend increasing by 164% since being reinstated in 2012, Apple's dividend expense has increased by just 54%.
Here is Apple's annual dividend expense:
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