But they haven't and all indications are that they will not. In the meantime the investors are happy with the growth and direction of the stock, the stock doesn't pay a dividend. The stock itself has had a low of under $80 for the year and has been in the low thirties within the last five years. There is nothing that guarantees a continued increase in stock value. But the fact that the company does have a high book value and over 20% of the book value in hard cash screams out for a dividend to be declared and paid. To hold onto that money is not only a disservice to the stock holders it borders on theft.
This is a company that has no debt and a market cap of close to $200 Billion. They can finance any deal they want to make without an excess cash on hand. The fact is that the management is hording the money and receiving way bellow market value on it's investment of that money. Either use the money for the benefit of the company or give it to the owners of the company, the stock holders.
or give it to the owners of the company, the stock holders. Then people would complain Jobs is trying to make himself richer off the company through his millions of shares. I can see the headlines now, "Apple puts out dividend, Jobs nets $20 million." He just can't win in the eyes of many.