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I need to find dividend yield for Apple at the release of their 2020 annual report, Form 10-K. That's it. I can't find it anywhere.

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  • What exactly are you trying to find? Share price or dividend yield? Please reword your question.
    – Flux
    Sep 2, 2021 at 11:39
  • I had it worded better on the initial question, however the posting review said it was too subjective. I want to know how to find the share price that Apple selected upon publishing their 2020 form 10-K. Using the dividend yield ratio and other given figures.
    – ewbrowning
    Sep 2, 2021 at 11:57
  • "Using the dividend yield ratio and other given figures." — Apple's 2020 Form 10-K makes no mention of dividend yields.
    – Flux
    Sep 2, 2021 at 12:06
  • Which particular figure in the 10-K are you looking to understand the derivation of?
    – AakashM
    Sep 2, 2021 at 12:26

3 Answers 3

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Formula for trailing dividend yield: dividend per share divided by share price.

The dividend per share can be found in the financial statements, while the share price can be found from financial data websites (e.g. Yahoo Finance).

To calculate the current (trailing) dividend yield, you need the current share price. Share price is always fluctuating, so even if a dividend yield is somehow mentioned in the financial statements, it would not be the current dividend yield of the stock.

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  • Thanks, however I'm asking for the share price. it is understood that the share price is always fluctuating however when Apple publishes their financials, they select a share price. I want to know how to work backward to obtain the share price using given figures in the statements please.
    – ewbrowning
    Sep 2, 2021 at 11:59
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    @ewbrowning "when Apple publishes their financials, they select a share price" — Citation needed.
    – Flux
    Sep 2, 2021 at 12:07
  • I suppose I'm missing something. How can I work backwards to find the share price then? Use earnings per share?
    – ewbrowning
    Sep 2, 2021 at 12:15
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    @ewbrowning Please be patient. I'm really trying to understand your confusion. I think there is a fundamental misunderstanding somewhere. There is no "crucifixion".
    – Flux
    Sep 2, 2021 at 12:21
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    @ewbrowning In general, financial statements do not deal with share prices. In general, financial statements can be prepared without knowing share prices. Consider the case of private companies, which have no public market for their shares. Private companies also produce financial statements.
    – Flux
    Sep 2, 2021 at 12:24
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In your question:

I need to find dividend yield for apple at the release of their 2020 annual report, form 10-K. That's it. I can't find it anywhere.

You are looking in the annual report for the share price so you can calculate the dividend yield. You are expecting that the company uses a expected share price to set the dividend.

But you have it backwards.

Most if not all companies don't use dividend yield to set their dividend. The yield calculated is just a byproduct of the dividend amount and the current price. The corporation doesn't control the current price of a share of their stock. They decide how much of retained earning they will return to the shareholders, when setting the dividend per share.

They make this decision to set the amount of money that will be returned at a moment unrelated to the filing of the annual report. These reports take time to produce, so if if the board did vote to set the yield this way it would never match reality, because the price per share is always changing.

From the comments:

I'm not sure how to answer this homework question if we are asked to determine the P/E from 2020

To get the share price on a particular date there are literally hundreds of websites that will give you the daily close of individual stocks, mutual funds, and indexes going back years. Pick a date, get the closing price.

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  • You are correct on the assumption that they select a share price to set the dividend. thank you for the clarity. I'm not sure how to answer this homework question if we are asked to determine the P/E from 2020
    – ewbrowning
    Sep 2, 2021 at 12:36
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To answer the real question, here's how I would approach the homework problem as a student

  1. Ask the professor what share price to use (or maybe what date's closing price to use).

  2. If you get no answer, I would use the closing price for the ex-div date of the dividend, and qualify the DY by adding "as of DD/MM close of trading" to be explicit about what share price you used. To me, the point of the question is to calculate (and probably apply) the dividend yield, so the date used is not the primary component.

All other answers are correct

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