Is Apple Now a Top Dividend Stock?

For much of its existence, (NASDAQ: AAPL) has been considered a growth stock. Many investors snapping it up for their portfolios still believe this to be so, as the company -- despite being a massive entity -- frequently books double-digit increases in key fundamental metrics.

Recently, though, Apple awarded said investors a relatively generous dividend raise. So perhaps this makes the company a solid dividend stock to own too. Here's a little exploration of this.

Let's get the details out of the way and set some context. Concurrent with the second quarter of fiscal 2023 results published in early May, Apple declared a new quarterly payout of $0.24 per share. This dividend raise shook out to a 4% improvement on its $0.23 per share predecessor. (By the way, that wasn't the only shareholder-pleasing move the company made; it also launched a $90 billion share repurchase program.)

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Source Fool.com