Apple has consistently raised its dividend over the past decade, with a modest increase to $0.24 per share per quarter last May and another expected raise this coming May. The dividend yield remains low at 0.5, not significantly attracting income investors. Apple has the financial capacity to offer a much larger dividend but prefers stock buybacks, spending $3.83 billion on dividends and $20.14 billion on buybacks last quarter. Buybacks have proven effective, with an 825 stock increase over the past decade and a 36 reduction in share count.