“Apple Inc., the iPhone and iPad maker that has $81.6 billion in cash and investments, will probably issue a ‘significant’ dividend next year, according to Howard Ward of Gamco Investors Inc.,” Ksenia Galouchko reports for Bloomberg.
“While the company has increased net income every year since at least 2002, Cupertino, California-based Apple hasn’t paid out cash to shareholders,” Galouchko reports. “The stock has jumped 53-fold since the end of 2002 after former Chief Executive Officer Steve Jobs transformed the Mac maker into a producer of mobile phones and tablet computers. Jobs, who died in October, was replaced as CEO in August by Tim Cook.”
Galouchko reports, “‘We’re going to see a dividend announced for Apple at some point in the first half of 2012,’ Ward, a money manager who helps oversee about $36.1 billion for Gamco Investors Inc., said in an interview today with ‘Street Smart’ on Bloomberg Television. ‘That could easily be a 3 percent dividend-yielding stock or even higher.'”
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