Looking for a Dividend Growth Stock? Look No Further Than Apple

Apple (NASDAQ: AAPL) has been on a mission to return a substantial amount of its extra cash to shareholders. Although the stock currently pays a low dividend yield of 0.6%, the long-term reward of owning a stock that pays growing dividends might surprise you. 

In fact, Apple's growing dividend might explain why the stock has outperformed the S&P 500 index over the last year. During market downturns, some investors like to add money to stocks that pay regular and growing dividends. Here's why Apple can weather a weakening economy and reward shareholders.

With the economy weakening, it might not seem like the best time to buy shares of Apple. After all, it depends on selling pricey tech products that some consumers might not be able to afford if inflation remains high and unemployment ticks up. On that note, recent estimates point to declining smartphone shipments in 2022 across the market. 

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Source Fool.com