If you are an Apple shareholder you will receive a dividend from the company tomorrow.
Every share will pay out a $2.65 dividend (currently worth £1.69). That might not sound like a lot of cash, but for Apple, which has 935 million qualifying shares, it adds up to $2.5 billion, one of the biggest dividend payments ever.
And Apple will continue to make a $2.5 billion dividend payment to investors each quarter.
To qualify, investors needed to hold shares on or before Monday 13 August.
This is the first of many dividend payments. The next dividend payment will come in November. Apple will then continue to pay quarterly dividends about a month and a half after the end of each subsequent quarter, according to Apple Insider.
Holders of Apple’s restricted shares also qualify for dividend equivalent payments. Apple CEO Tim Cook has already announced that he will not collect his dividend payment for the 1.125 million shares of restricted stock he was granted – which would be worth over $75 million.
These quarterly dividends will incurs income tax as they are paid out.