Here’s How Many Shares of Apple Stock You’d Need for $100 in Yearly Dividends

There’s certainly no denying this technology ticker has been a powerhouse performer for the past couple of decades. And yes, Apple (NASDAQ: AAPL) is technically a dividend-paying stock.

These two details alone, however, don’t inherently make this name a well-suited choice for income-seeking investors.

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The numbers

Don’t misread the message. Again, Apple pays its shareholders an ever-growing dividend. It’s just not a particularly big one. The stock’s current forward-looking yield stands at a mere 0.3%. That’s not much… only about $1.08 per share. To put those numbers in perspective, to collect just $100 worth of income from a stake in this popular company in a year, you’d need 93 shares of its stock. If you were buying that number at today’s price, it would cost you a little over $32,000.

Moreover, even if the company continues raising its dividend at its recent pace, in 10 years that initial $32,000 investment would still only yield annual dividends of just under $160. That translates into opportunity cost with making such a sizable commitment to AAPL as an income investment.

Not suited for this purpose

This doesn’t mean Apple is a bad stock pick, to be clear. It’s just not a great pick for income investors needing their assets to generate recurring, spendable cash at a reasonable rate of return.

Rather, AAPL remains primarily a growth stock, albeit a good one, boosted by even more generous stock buybacks. The company spent $25.8 billion on repurchases during the quarter ending in June, for perspective, while only $4 billion was spent funding its dividend payments. This dynamic isn’t apt to change much under new CEO John Ternus’ leadership, either.

So, if you’re looking for a solid all-around income investment, look elsewhere, and start your search with stocks that have a higher yield. While a dividend yield at any particular time is far from a stock’s whole story, it’s certainly an important part of every income investment’s profile.

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James Brumley has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Apple. The Motley Fool has a disclosure policy.

Here’s How Many Shares of Apple Stock You’d Need for $100 in Yearly Dividends was originally published by The Motley Fool