's (NASDAQ: AAPL) earnings report last week sent the tech stock sharply higher. Investors were impressed with the company's better-than-expected revenue and earnings per share. The upside to the quarter was largely driven by iPhone sales coming in much better than expected. Total iPhone sales were higher than any fiscal second quarter yet. Apple's smartphone revenue rose 2% year over year to $51.3 billion "despite significant foreign exchange headwinds and a challenging macroeconomic environment," said Apple chief financial officer Luca Maestri during the company's earnings call. 

While Apple's financial performance for the period was impressive (particularly considering the macroeconomic headwinds the company is facing) there's another facet of the update worth exploring: Yet another dividend increase from the tech giant. The dividend hike meant Apple added to its growing streak of increasing its dividend every year.

Here's a look at the company's dividend increase, as well as another key way the company is using its excess cash to build shareholder value.

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Source Fool.com